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Oil - Brent (UKOIL)

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OIL_BRENT trade ideas

Buy BRENT#BRENT Oil continues its steady growth on expectations of a reduction in supplies from the Russian Federation in September, as well as positive news from China. However, at the moment the price is starting to look a bit overheated and needs to be deflated. Against this background, I am waiting for a suspension and correction in the coming days. Nevertheless, the uptrend is strong, so the plan is to open purchases near the levels of 87 and 86 dollars per barrel with a take profit of 88.50.
SKILLING:XBRUSDLong
by airstels
Brent - a brief overview.Today, I was already expecting some more tangible news on the oil chart. But for now, we can say they are not at all. In the current conditions, I suggest focusing on technical levels: Resistance 3 - 91.77 Resistance 2 - 90.34 Resistance 1 - 89.60 Pivot point - 88.17 - the price is now just above it, and perhaps after its breakdown, we can expect a further decline to the level of 86. Support 1 - 87.43 Support 2 is just at level 86. The test we expect. Support 3 - 85.26.
OANDA:BCOUSD
by aleksandr_shirin
Is Brent going to hit its daily target - Stretch principleThis trade we are looking at on Brent oil is based on the stretch principle. We have entered on the close of the confirmation bar(the one with the dot) according to our smart money framework indicator and our trend alignment with the the higher timeframes. E - 1.2643 SL - 1.2547 T - To be confirmed(TBC) So far,it is going in our favour as it has taken out the upper stretch line which gives the bigger range from open(BRO) a higher probability to form in that direction. We will be tracking this move and managing it as we go along. Keep a look out for it traders. To understand our ideas and videos better,we highly recommend watching our following stream videos: 1. 7 steps to achieve consistent trading performance www.tradingview.com 2.7 steps for strategy construction www.tradingview.com 3.Stretch principle videos Refer to related ideas links as below
EASYMARKETS:BRTUSDLong
by masterthemarkets2010
2
Oil at the upper boundary of the corridor.Brent oil is the second time in five weeks to the upper limit of the global corridor. Of course, there are quite a number of buyers on the market. And it seems that there are more and more of them, because during these 5 weeks, the forces of buyers released the quotes down very close to the current levels. What can not be said about April 2023, when after the first touch of the level of 86.90, the price immediately went down to 71.50 with almost no tangible pullbacks. Perhaps this time the bulls will succeed. You just need to remember that buying now can carry a high risk. Buying risk content will decrease if the price consolidates above 86.90.
OANDA:BCOUSD
by aleksandr_shirin
UKOIL Long Idea Daily bias switched over to long today. no strong resistance till 85.77 visible. 2 potential entries marked on chart along with all relevant information needed to assess long idea. additional potential entry can be expected at London open. I usually trade just London session but this setup looks too good to pass on if it presents right away. but I will wait till the POC is cleared. whether it does this in next 15 minutes or after London opens up, we will see.
TVC:UKOILLong
by Osiris992
Brent crudeThe "Supertrend EMA Strategy" is a trend-following trading strategy that combines the Supertrend indicator and Exponential Moving Average (EMA) to identify potential trade entry and exit points. It also employs a trailing stop mechanism to protect profits and manage risk. Components: Supertrend Indicator: A trend-following indicator based on the Average True Range (ATR). It provides signals for potential trade entries based on the prevailing trend direction. Exponential Moving Average (EMA): A type of moving average that gives more weight to recent prices. It serves as a filter for trade entries. Trailing Stop: A dynamic stop loss mechanism that adjusts the stop level as the price moves favorably. The strategy uses both an initial trailing stop and a maximum trailing stop, calculated using the ATR value and a user-defined multiplier. Workflow: Define user inputs: Set the lengths and multipliers for the Supertrend ATR, EMA, and trailing stops. Calculate indicators: Determine the Supertrend and EMA lines and calculate the ATR values for the initial and maximum trailing stops. Determine entry conditions: Enter a long trade when the Supertrend direction is bullish, the closing price is above the EMA line, and no active trade exists. Set trailing stops: Calculate the initial and maximum trailing stop levels based on the closing price and respective ATR values. Adjust trailing stop: Update the trailing stop level as the price moves favorably, ensuring it always follows the price upwards. Exit trade: Close the trade when the price falls below the current trailing stop level, using the higher of the initial or maximum trailing stop levels. Plot indicators and stop levels: Display the Supertrend line, EMA line, and trailing stop level on the chart. This strategy is suitable for traders who prefer trend-following approaches and wish to capitalize on price movements while managing risk with a trailing stop. It can be applied to various timeframes and adapted to fit individual preferences and risk tolerance.
OANDA:BCOUSDLong
by tradingtechnicals.tt
Brent - decline on pause.Oil sellers are not yet able to push through the existing support zone so that the daily candle closes below the existing lows. Much more important for traders is that these attempts to decline can stretch for a very long time and eventually end with a rebound and then a local increase to the resistance level. And if that happens. then all the cards will be shuffled again, and we will have to deal with a new hand, new trump cards on a new table. Let me remind you that the key resistance for Brent oil prices is in the area of 87.
OANDA:BCOUSD
by aleksandr_shirin
Brent - technical levels. Continuation.Yesterday I published an idea in which I showed the current levels for Brent oil. Today it is clear that the support level has been passed. The level can be considered broken if today's daily candle closes below the August 3 low. If this does not happen, then we will wait for the next daily candle to close below today's one. It is then that we can expect a further decline in quotations. Let me remind you - I believe that oil quotes are in the global corridor. And if we talk about the next decline in prices for black gold, then a fall should be expected to the level of 72.40.
OANDA:BCOUSD
by aleksandr_shirin