OIL_CRUDE trade ideas
WTI LONG -SHORT Sorry folks, here's the chart. My end of the the plays in WTI. More in and lvls in previous post
Ty
WTI - LONG SHORTThought I'd publish my first idea to the community. All things being equal , this will be my game plan for the rest of 2024.
Retest ~ 70.5 - 70.65 (Rejection)
Long Entry ~ 67.2 - 66.85 S/L 66.65
TP1 ~ 77.2 - 77.85 ( with rejection candle)
Long Entry ~ 70.6 - 70.5 ( on rejection)
TP2 ~ 79.2 - 79.5
Short Entry ~ 79.5 - 80.4 ( if rejected, S/L 81.5)
Let it ride till Major Target ( 57.7 - 57.3) is reached or End of year
Comes first.
As I said folks first idea, so no putting the kids inheritance on it😆.
Feed back and critique welcome.
Thanks folks✌️
Oil Price Second Week of September 2024 - 9 to 13 Sep
Price Action during the last week
Highest Value 74.42 $
Lowest value 67.20 $
Total Range 7.22 $
Next week Expected
Highest Value 71.45 $
Lowest value 65.45 $
Total Range 6 $
Up Trend
If the price record above 71.45 and hold it the price may move toward 73.80 which will lead to 75.80 and it hold there the price can reach 78 in the most positive scenario.
Down trend
If the price record below 65.45 The price may drop to 62.50 and if 62.50 did not hold the price can drop to 58 in the worth scenario.
Major News Expected:
11 Sep Inflation Rate
12 Sep PPI
13 Sep MCS
CRUDE OIL SWING LONG|
✅CRUDE OIL is about to retest a key structure level of 66.94$
Which implies a high likelihood of a move up
As some market participants will be taking profit from short positions
While others will find this price level to be good for buying
So as usual we will have a chance to ride the wave of a bullish correction
LONG🚀
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USOIL: Long Trade with Entry/SL/TP
USOIL
- Classic bullish setup
- Our team expects bullish continuation
SUGGESTED TRADE:
Swing Trade
Long USOIL
Entry Point - 68.08
Stop Loss - 66.47
Take Profit - 71.28
Our Risk - 1%
Start protection of your profits from lower levels
❤️ Please, support our work with like & comment! ❤️
USOIL: Local Correction Ahead! Buy!
Welcome to our daily USOIL prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the upside. So we are locally bullish biased and the target for the long trade is 68.90
Wish you good luck in trading to you all!
Crude Oil - 5 lines bearishIf we look at Crude Oil on the daily chart with Ichomoku perspective
1. Kumo - price is below Kumo, telling us Sellers are in control.
2. Span A and Span B - borders of the Kumo are both facing down steeply.
3. Tenkan Sen is below Kijun Sen - telling us the medium term is bearish. Both lines are facing down.
4. Chikou - is both below and well clear of recent price action. This is bearish.
For next week the bias is to search for Short Opportunity's.
The intraday chart shows price consolidating in a Descending Triangle, before a breakdown in the last trading session.
Ideally would like to see a retest of this structure as resistance, before the next wave down.
Projected targets are based of this retest from 65.25 - 67.50
USOIL Analysis Pair Name = USOIL
Timeframe = D1
Analysis = technical + fundamentals
Trend = Bearish
Pattern = Symmetrical Triangle
Explaination :-
USOIL Is forming the symmetrical triangle pattern breakout confirmed. we can see here a bearish wave.
US OILUS oil is in Bearish Trend for some time but now standing at very strong support and Divergence so expecting a reversal.
USOIL Breakout And Potential RetraceHey Traders, in today's trading session we are monitoring USOIL for a selling opportunity around 69 zone, USOIL broke out an important support and now is a correction phase in which it is approaching the retrace area.
Trade safe, Joe.
OIL Long - Quick Up, don't get fooledWe still didn't see the bottom yet, however I expect a little fake pump before further sliding down since it's friday and we swept a weekly swing low. No science needed.
usoilMy TVC:USOIL i see pa ending in a down trend with a possible reaction zone at 62. yet would be looking for a bullish rotation without expectations as we see a bullish flag on the weekly
Line in the sand for a downfall will be around 60. #trader #daytrader #usoil TVC:USOIL #oil #crudeoil #investor #technicalanalalyst #stockmarket #technicalanalist #awakensoul #artist usoil
"2nd try at the Oil sniper LONGOil now down 10% on the week and in a big zone of wicks . very much doubt this will close limit down this week or today ( weekly candle will have a wick) so sticking with the previous idea just a tad early on todays trade
USOIL breaking through previous supportAs seen on chart, price has broken through the previous support at 71.50.
Next support is at 67.75, so that's the target for now. May close it earlier based on price action.
WTI Light Crude Oil LongLooking to buy Oil off the low created in December 2023. On the Elliot wave, this is currently the 5th and final wave to the downside according to the theory.
With rate cuts on the horizon and political instability there is a good probability for Oil to begin a new upswing.
Technical Confluences:
Key Level
-38% Fibo extension level (take profit zone)
Elliot wave
Broker IC Markets
Entry- 67.80
SL- 66.90
TP- Open (Partials at 3RR)
Oil Collapse | WTICOUSD About to Give it Up!I called the oil top in June 2022 and I have been building / holding a massive leveraged short position ever since then.
This market will take YEARS to recover, after the current selloff is complete. I will continue to cover the devastation, along the way.
Don't listen to the media - they are lost.
Question your "advisors" - they are going to encourage you to "stay invested", it's what they do.
Ultimately, the decision to ride out this market will cost you dearly.
If you are able, GET OUT OF THE MARKETS.
There is nowhere to hide!
Sniper LONG OILAS explained in the idea yesterday. Oil gives one move push down. All 3 push downs have been measured moves around the same time as day. Sniper entry with better RR and the stop loss on yesterdays idea placed incase this move played out
WTI Crude Oil USOUSD LongIn my humble opinion, the worst seems to be over for oil.
Trading Idea: After analyzing multiple sessions, I noticed how well the price has absorbed the recent drop, reclaiming the liquidity distribution from last month. There’s no strong indication of further downside. The Asian session has brought it into a solid accumulation range. I’m looking for an entry within the lower zone, aligned with a 15-minute FVG.
Trade Management: Once the rally begins, I plan to take partial profits (40%) at yesterday’s NY session high, and let the remaining position run toward the swing high. I’m targeting a rally up to the $73 area, but will wait for additional high-probability confirmations as the rally unfolds.
Risk: 0.50%
R/R: 6.78
Supply/Demand Analytics on 2024 Oil: IEA-EIA Demand ProjectionDear Esteemed Members,
There are several fundamental factors that could support the oil price reaching $76.09 per barrel, which is the highest level since November 2014.
As the global economy rebounds from the pandemic, the demand for oil is expected to increase, especially in the second half of 2024. The International Energy Agency (IEA) projects that global oil demand will grow by 5.4 million barrels per day (bpd) in 2024, reaching 99.6 million bpd by the end of the year.
The OPEC+ group of oil producers, led by Saudi Arabia and Russia, has been maintaining a cautious approach to increasing output, in order to balance the market and avoid oversupply. The group agreed in April to gradually raise production by 2.1 million bpd between May and July, but this is still below the pre-pandemic levels of output. Moreover, Saudi Arabia has voluntarily cut an extra 1 million bpd from its production since February, which it plans to phase out by July.
The US shale industry, which was hit hard by the price collapse in 2020, has been showing signs of discipline and prudence, focusing on improving cash flow and shareholder returns rather than expanding production. The US oil rig count, a proxy for drilling activity, has increased by about 100 rigs since the start of the year, but it is still more than 300 rigs lower than a year ago. The EIA estimates that US crude oil production will average 11.2 million bpd in 2024, which is 0.3 million bpd lower than in 2020.
The oil market is always susceptible to geopolitical tensions and conflicts that could disrupt supply or create uncertainty. Some of the current hotspots include Iran, Libya, Nigeria, and Venezuela. Iran, which has been under US sanctions that limit its oil exports, is engaged in indirect talks with the US to revive the 2015 nuclear deal, which could lead to a lifting of sanctions and a return of Iranian oil to the market. However, the outcome of the negotiations is uncertain and could face opposition from hardliners in both countries. Libya, which has been plagued by civil war and instability, has seen its oil production fluctuate due to frequent attacks and blockades on its oil facilities. The country is currently producing around 1.2 million bpd, but it faces challenges in maintaining and increasing its output amid political and security risks. Nigeria, Africa’s largest oil producer, is facing social unrest and militant attacks that could affect its oil infrastructure and exports. The country is also struggling to implement a long-awaited reform of its oil sector, which could improve its governance and attract investment. Venezuela, which has the world’s largest proven oil reserves, has seen its oil industry collapse due to mismanagement, corruption, and US sanctions. The country’s oil production has fallen from over 3 million bpd in the late 1990s to less than 0.5 million bpd in 2020.
Kind Regards,
Ely
Crude Oil Outlook for Sep 2024Crude Oil broken support trendline .
Now will happen the expecting falling wedge pattern
Fill up the car. Price is going to 100Looks like we are going to make a wave C to the upside around the 100 level. Then we could see a drup till 30?? Well, for now a nice trade with a small stoploss!!
