UK OIl Will Start upside movement UK OIl Will Start upside movement if sustain above 84 Stoploss below 74 upside target position 88-94-99+++
XBRUSD trade ideas
UKOIL daily XABCD bulls 20% upside BUY/HOLD🔸Hello traders, let's review the daily price chart for UKOIL.
Speculative XABCD in progress, with 20% upside potential based on the
current price action / fundamentals.
🔸XABCD structure is defined by point X at 95.60, point A at 73.20, point B
at 92.50, point C at 77.00, point D/PRZ at 105.00, currently most points validated,
point D/PRZ pending in May/June 2024 (PRZ/D = 105.00)
🔸Recommended strategy for UKOIL traders: accumulate near market
price using low leverage. TP Bulls is 105.00 +20% gains. swing trade setup. good luck!
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UKOIL APRIL 2024 WEEK 1 OUTLOOK - Daily - long is the way to go here on oil. there is a zone above that can provide some resistance **88.15 - 87.17**, once that gets cleared, I will look to get involved. till then, I will wait.
Origin - looks extended here. a pullback seems like the way to go here. I will look for a pull to the zone **86.54 - 85.77** . once price enters this zone, I will drop to my trigger timeframe and then look to enter long. no matter where I enter, as soon as price comes around the daily highlighted zone, I will book and bail out. COT data is long. Historically, in last 13 years oil has closed down most of the week 1 in april.
Will oil enter the $90 channel?📊 According to the upward movement momentum of the price, if the range of 87.5 units is broken and the price stabilizes above it, the price may increase to the range of 88.50 🎯and in the case of the strength of the range of 90.00 units🎯🎯.
📊 Otherwise, the price may fall to the range of 85.00 units.
Q1 Performance review,OE,Actual Re:Ri & SelectionIn this live trading video,we look at the underlying concept behind our OE basesd strategies,why actual reward:risk is more important than Expected,how to select your trades and our Q1 performance review on our 100k traders challenge account. The concepts and ideas in this video can be cross transferred onto any strategy.
Brent longA fib retracement after breaking below the trend line and forming a pin bar in 12 hr gives an idea of a long position for an RR of ~2.5
OIL (BRENT) - BUY SETUP (JAN 2024)OIL (BRENT) - BUY SETUP (JAN 2024)
OIL (BRENT) is in a prime buy zone, indicating potential for an upward trajectory.
UKOIL 26.03.2024UKOIL
With the war continuing in the Middle East and the failure to agree on a truce, this will be positive for oil, but we have a very important area for prices to fall from 86.60 to 87.60, and the goals in the long term will be 81.93. We will have daily updates for this scenario in the comments.
UKOIL MARCH WEEK 5 OUTLOOK -
Daily - Looks bullish. any long positions will be booked as price enters 88.15 - 86.93
Origin - Looks bullish. but there is a few points of resistance above like last week's AVWAP and TC. so I will look for price to hold above 86.37 and then look to go long till R1.
DeGRAM | UKOIL pullback tradeUKOIL reached resistance, and it created AB=CD pattern.
The market is trading in the ascending channel, indicating the bears are running out of steam and the bulls are in control.
Price broke and closed above the resistance at 84.00 which became the support level.
We expect a pullback, then a bullish move.
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UKOIL - H4 Short After a bearish leg yester and a 4 hour pullback, this might indicates a continuation to the downside. Lets see where it goes.
CRUDE OIL BRENT/WTI SELLINGHi Oil Traders,
This is our master plan to Rob Crude oil Barrels. Guys U can enter to Rob this oil at entry level i have mentioned or place your sell stop below my entry level this is our master plan. Our target is Trap area.
The correlation between oil and gasolineDear analysts and traders,
I hope you are doing well and are motivated for the week ahead. I wish you all the success in your business endeavors. Remember that success in trading lies in consistently defining and sticking to your rules.
As someone interested in the Elliott Wave Principle, I find it to be an invaluable tool for market analysis. I have developed my approach by combining this principle with my personal experience and by considering different scenarios that are likely to occur in the market. It should be noted that I do not like to be surprised in the market, and that's why I have different market prospects. I follow them to be sure and recognize the structure that is forming so that I can 100% recognize it.
I will share my analysis with you, but please note that I am not providing any buy or sell signals. My perspective on idea analysis is completely unbiased, so if the idea analysis meets your standards, you can use it as a guide to make an informed decision.
I have attached my previous analysis of the same market so that you can compare and see the differences. All the details of my analysis are clearly labeled, making it easy for you to understand. However, having a basic familiarity with the Elliott Wave Principle theory will help you understand the analytical idea more easily.
I have been studying the Elliott Wave Principle for almost three years now, and over time, my understanding of this knowledge and experience has grown. What I have achieved so far is the legacy of a genius called Ralph Nelson Eliot, and I am really happy with my progress. May peace be upon him.
Thank you for your support so far. I will always remember your kindness. Please share your comments and criticisms with me.
I hope my analysis will be useful to you in your business journey, and I wish you all the best.
Sincerely,
Mr. Nobody
#OIL Price at profit taking placeHello everyone,
I'm thrilled to share my 101st analysis here, marking a significant milestone in my journey. While there were certainly some analyses that didn't pan out as expected, I believe the ones with better results outweighed them in total. I'd like to express my gratitude to those who supported the ideas, left comments, or liked the analyses. Your engagement motivates me to continue improving the quality of my work.
Now, let's delve into the analysis of the Oil price, as it has reached a crucial price level where profit-taking activity may occur, potentially leading the price lower.
As shown in the chart, not only has the price reached a bearish trendline that previously held it at lower levels, but we are also currently at the one-to-one price target projection of an inverted head and shoulders pattern , a level where many pattern traders would consider taking profits.
It's worth to note that as soon as the price reached this area, it encountered some bearish pressure and failed to sustain its bullish momentum.
At present, based on my strategy, I don't have any bearish signals or triggers. However, with a bit more patience, I believe a good opportunity may present itself soon.
If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
#Oil Algo LevelsSharing the algo levels for brent oil - cyan color is daily levels, purple levels are weekly levels and orange levels are monthly levels. The higher the timeframe, the stronger the levels. In general, above OP and PZ, bias is to the upside and vice versa.
Professional technical analysis and my own trading setup.After a long absence from TradingView, here is a new update, related to the type of analysis I do every day on US Oil and UK Oil (although this type of analysis could be done on any market available on TradingView).
In this video, I provide some basic explanations, mentioning the type of indicators used and how the information is put into context, in order to trade successfully.
I have now been trading US Oil for 25 years, a quarter of a century (!!), and I still love trading as much as I did on my very first day, 25 years ago.
Wishing you a great week.
BrentBrent has broken the strong resistance at 84.000 after few weeks of struggle which has formed head and shoulders pattern , and now heading to the next resistance level at 88.000 and based on my strategy I’m going to place sell order around 88.000
Chart explain better. This is not a signal it’s my opinion.
Strifor || BRENT-14/03/2024Preferred direction: BUY
Comment: After a very long accumulation in oil, most likely the buyer is ready for the long-awaited growth. According to the results of yesterday's trading, the price was fixed at the highs, which indicates the strength of the buyer against the backdrop of growing market sales.
In this regard, we maintain a strong buy priority towards levels 86 and 87 . Both scenarios are displayed on the chart, where scenario №1 is more likely.
Additional comments on this trade will be provided as situation changes. Follow us!
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Live Trading Session 256: Potential & open positions on BRT,etcIn this live trading session video,we look at current live open and closed positions on BRENT,GBPUSD and EURUSD and potential trades coming on Bitcoin,Etherum,US30, etc and the thinking behind them. We also look at how we are doing on our live 100k traders challenge account.
UKOILMid-term scenery. Hunting again. When you trade from the first principles, you will focus on logic not pattern; it's logic that yields pattern
Brent Crude Breaks to Four Month HighsWith Brent crude reaching four-month highs, let's delve into the factors propelling this surge and explore potential trading opportunities.
What’s Driving Oil Higher?
A key catalyst behind last week’s breakout in Brent crude was the release of a report from the International Energy Agency (IEA), which highlighted a tightening market outlook for 2024.
The IEA revised its projection for 2024 oil demand growth upwards for the fourth time since November, citing disruptions in Red Sea shipping due to Houthi attacks. However, it cautioned that the ongoing global economic slowdown presents an additional challenge to oil consumption.
The IEA anticipates a 1.3 million barrels per day increase in oil demand for 2024, reflecting a rise of 110,000 bpd compared to the previous month but remaining below the 2.3 million bpd growth seen last year.
Additionally, the IEA adjusted its 2024 supply forecast downward, now expecting oil supply to climb by 800,000 bpd to reach 102.9 million bpd this year.
The Breakout: Transition from Contraction to Expansion
Brent crude has been carving out a series of higher swing lows on the daily candle chart since the turn of the year, but the market had been contained beneath a key area of resistance created by the October 2023 swing low and November 2023 swing high (see daily candle chart below).
This series of higher swing lows into horizontal resistance created an ascending triangle pattern. As prices were funnelled into the apex of the pattern, a tight sideways range developed in late February early March.
The breakout last week relieved the market pressure, transitioning Brent crude from contraction to expansion.
Brent Crude Daily Candle Chart
Past performance is not a reliable indicator of future results
Hourly Candle Chart Analysis
Drilling down to the hourly candle chart reveals that Brent crude has broken above last week’s highs during early European trading. This is a bullish sign and underlines the current level of momentum in the market.
Using lower timeframes in conjunction with higher timeframe breakouts is an interesting approach to crafting potentially insightful trade setups.
Brent Crude Hourly Candle Chart
Past performance is not a reliable indicator of future results
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UKOIL MARCH WEEK 4 OUTLOOKDaily - looks super bullish but in need of pullback. a single bearish day will do. volume has been drying up as we move to the long side. so we need a pullback and volume to start flowing in.
Origin - outside value month means high probability of chop week. looks extended here too. ideally I would like price to pull to **84.63 - 83.36** or a deeper pullback to **83.36 - 82.01** will be even better. I will get involved in longs only once we observe a pullback and then see oil regaining strength on volume.
