USDBRO trade ideas
Brent made an attempt to get out of the corridor.Well, it looks like they waited - yesterday the oil quotes passed the resistance level and today they continued their (possibly!) victorious march. But I ask you to be patient. The quotes have not yet left the sales area and making deals to buy is still very risky. According to the classics, now the support level should become the resistance level. When we see it with you - then it's time to buy.
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.
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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.
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.
UK-BRENT-OIL (dropping...)BRENT OIL - UK
To get 83.50 should be stable under 85.17
and stabilizing above 86.04 will be bullish to reach 91.43
Pivot Price: 85.17
Resistance Price: 87.70 & 91.43
support price: 83.50 & 82.70 & 80.52
Brent oil will move between 86.04 and 82.71
UK-BRENT-OIL BRENT OIL
to be bearish should stable under 82.71 then will reach 80.52
to confirm the bearish trend should break 82.71
and stabilizing above 86.04 will be bullish to reach 91.43
Pivot Price: 83.50
Resistance price: 85.17 & 87.70 & 91.43
support price: 82.70 & 80.52 & 77.81
Brent oil will move between 86.04 and 80.52
selltp1:85.53
tp2: 82.44
tp3: 78.80
tp4: It is still possible to continue the downward trend
So manage in D1
*** After the price reaches the first target, risk free😎
Brent oil has a new target.In my opinion, Brent oil quotes are preparing to decline, and in all likelihood the first target is $80 per barrel. There is a slight complication, which consists in the fact that it will make sense to open a sale only below the level of 81.50. If it is a confident breakdown, then everything is in order, but it may turn out that the bars will reach 80 only with shadows, in which case it will not work.
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.
UK Oil Daily AnalysisPrices move because of supply and demand. When demand is greater than supply, prices rise. When supply is greater than demand, prices fall. Sometimes, prices will move sideways as both supply and demand are in equilibrium.
Ukoil sell model Ukoil is approaching the retail retest and also the poi for more down side after their liquidity has been taken for down continuation
DeGRAM | UKOIL channel breakingUKOIL rebounded from the resistance and pulled back on the 4-hourly chart.
The market is trading in the descending channel, but this is just a pullback against the bullish trend.
We anticipate the continuation of this current trend and the breakout of the channel.
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Share your opinion in the comments and support the idea with like. Thanks for your support!
UK-BRENT-OIL BRENT OIL
to be bearish should stable under 82.71 then will reach 80.52
to confirm the bearish trend should break 82.71
and stabilizing above 86.04 will be bullish to reach 91.43
Pivot Price: 83.50
Resistance Price: 85.17 & 87.70 & 91.43
support price: 82.70 & 80.52 & 77.81
Brent oil will move between 86.04 and 80.52
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.
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.
Usoil we can buy herHarmonic equilibrium routing
Wecan buy here .This is a reversal area and can break the last high
Support and Resistance For Brent Crude Oil (UKOIL)Strong resistance for UKOIL is at level 86.55 and currently rejected. As we can see, the intermediate uptrendline also broken. So, right now Brent Crude Oil on bearish direction. The support level are at 84.36, 82.22, 79.84 and 77.02. Meanwhile current resistance level are at 86.55, 87.34 and 91.85.
BRENT OIL TRADE IDEA (21-25 Aug)TRADE IDEA (21-25 Aug)
NEUTRAL (RANGE BOUND)
Target 1 hit last week
BEARISH Candle formed on Weekly timeframe
Price seems to be showing signs of exhaustion
would consider a SHORT on a close and hold below
4H BOS
UPSIDE
A break and hold above 4H BOS
level could target the 88.00 level
Double top formed on Brent 1H As you can see a double top formed on a 1h confirmed on 15m and 5m TF price did not come back to retest so we look for shorts TP @ support level
Brent oil is having a tough time.For 40 weeks now, Brent quotes cannot or do not want to leave the corridor between the levels of 70.83-86.32. And it looks like now the decline is possible to the lower limit. The nearest level that can provide resistance now is 84.40. I propose to pay attention to it, and after the breakdown, it is very likely that we will get the opportunity to open a sale.
Live Trading Session 234: Potential Trades on GBP,Brent & moreIn this live trading session video,we look at potential trades setting up for the week on GBPUSD,S&P 500,Brent Oil,Bitcoin and many more.
