XTIUSD trade ideas
USOilThis was taken as a reduced risk entry on the 15m timeframe in which I will be managing to the low.
USOIL Bullish 4h Divergence 1. Market Analysis:
Asset: USOIL (WTI Crude Oil)
Timeframe: 4-hour
Pattern: Bullish divergence
2. Divergence Details:
Bullish Divergence: A bullish divergence occurs when the price forms lower lows, but an oscillator like RSI or MACD forms higher lows, indicating a potential reversal to the upside. This signals that bearish momentum is weakening and a bullish reversal may be imminent.
3. Trade Setup:
Entry Point: Enter a long position once a bullish candlestick closes and confirms the divergence on the 4-hour chart. Look for a strong confirmation candle, such as a bullish engulfing or a close above a short-term resistance level.
Stop-Loss: Place the stop-loss below the recent swing low to minimize risk in case the trade goes against you. This placement will account for market volatility and protect your capital.
Take-Profit: Identify key resistance levels for take-profit. You can aim for a favorable risk-reward ratio of 1:2 or higher, or target the next significant resistance level for oil prices.
4. Risk Management:
Position Size: Calculate your position size based on your risk tolerance and the distance between your entry and stop-loss. Only risk a small percentage of your trading capital per trade (1-2%).
Risk-Reward Ratio: Aim for at least a 1:2 risk-reward ratio, meaning if you risk 50 points on your stop-loss, your take-profit should be at least 100 points away from your entry.
5. Additional Confirmation:
Volume: Ensure volume increases as the price moves upward to confirm strong buying interest and support the bullish divergence.
Support and Resistance Levels: Check that the entry aligns with strong support zones, and plan to exit around resistance levels that align with the broader market trend.
6. Trade Execution:
Place Orders: Set your buy order, stop-loss, and take-profit levels according to the plan.
Monitor the Trade: Manage the trade by adjusting your stop-loss to break even or trailing it as the price moves in your favor.
7. Review and Adjust:
Post-Trade Analysis: After the trade closes, review its outcome to learn from it. Reflect on how well the setup played out and what could be improved in future trades.
USOIl-Bias long Bullish indications:
Major support since 2021 is respected and bouncing from it.
In short time made a high
Inverted head and shoulder pattern
Moving average 20 respected.
getting respected from the trend line support.
Formation of inverted head and shoulder in 5 min chart from trend line support
Bearish indications:
Trend line resistance respected at 72.126
Trade plan bias long @ 71.29
SL:70.09
TP1:72.65
TP2:73.87
A turning point for crude?Yesterday saw a significant turnaround for crude prices. Having started Wednesday sharply lower, crude suddenly reversed. Front-month WTI had come close to breaking below $70 per barrel. But the turnaround saw it make back all its early losses and end the day creeping into positive territory. Prices have built on these gains this morning. Could this be an early sign that the bulls could take back control? If so, it’s certainly been a long time coming. But it will take a concerted and aggressive buying programme from current levels to drive out the shorts and take prices back above significant levels. Nevertheless, yesterday’s reversal may turn out to be the first step. As compelling as the ‘slowing demand growth’ argument has been in pushing oil lower, there comes a time when a story starts to lose its power. Could this be the case now, or are we witnessing a head-fake? It’s possible that the short-sellers are beginning to take a back seat now, particularly as traders continue to worry about the likely Israeli response to the Iranian missile attack earlier this month.
USOIL Will Go Up From Support! Long!
Take a look at our analysis for USOIL.
Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 71.32.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 75.37 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
Like and subscribe and comment my ideas if you enjoy them!
USOIL SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
We are now examining the USOIL pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 67.89 level.
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WTI giving the Green lights oil is doing something amazing looking forward for a bullish run and hope fundamentals play along too this week
WTI crude oil trend is neutral, with more bearish conditionsTVC:USOIL continued to recover from a decrease of 1% in the previous trading day after the US announced that crude oil inventories increased much higher than expected. After falling back, it continued to rise as the US election approached causing commodities to revive inflation expectations and the possibility of a further recovery in oil prices.
The U.S. Energy Information Administration (EIA) said on Wednesday that crude oil inventories rose sharply, rising 5.5 million barrels to 426 million barrels in the week ended October 18, compared with market expectations. market for an increase of 270,000 barrels.
Current concerns about potential oil supply risks due to conflict in the Middle East have partly offset the impact on crude inventories.
On the daily chart, TVC:USOIL Trading is currently quite slow with price activity mainly around the EMA21 level.
Although WTI crude oil has recovered, the recovery is still temporarily limited by the resistance level of 72.39 USD and the 21-day moving average (EMA21). In case WTI crude oil price increases and breaks the level of 72.39 USD, it will tends to rise a little further to test the 0.382% Fibonacci retracement level.
The current recovery level of WTI crude oil is still not enough to create a bullish cycle as the Relative Strength Index is also approaching point 50, a position considered to be under pressure in terms of momentum.
Once WTI crude oil is sold below the 0.236% Fibonacci retracement level, the recovery cycle will end with the target level then around $68.19 in the short term, more so than $67.14.
During the day, the technical outlook for WTI crude oil is currently neutral, with more bearish conditions and notable levels listed below.
Support: 70.56 – 68.19USD
Resistance: 72.39 – 73.80USD
USOIL Potential UpsidesHey Traders, in today's trading session we are monitoring USOIL for a buying opportunity around 70.80 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 70.80 support and resistance area.
Trade safe, Joe.
USOIL Ready for $75!WTI oil prices have climbed back to $71.60 per barrel, supported by geopolitical tensions in the Middle East, particularly due to the conflict between Israel and Hezbollah. The possibility of disruptions in oil supplies from the region fuels market uncertainty. However, the significant increase in US crude oil inventories, far exceeding expectations, is putting downward pressure on prices, indicating a potential oversupply. Additionally, the strengthening US dollar, which has reached its highest level since July, is reducing oil demand by making it more expensive for foreign buyers. These factors limit the potential for price increases, despite geopolitical concerns.
WTI on the Rise: Approaching 1Y Pivot PointHello,
BLACKBULL:WTI is on an upward trajectory, having established itself above the 1M, 1W, and 1D pivot points as it moves toward the 1Y pivot point. Despite this trend, most market participants are still anticipating further declines, which should become clearer soon!
TradeWithTheTrend3344
WTI CRUDE OIL: Keeps respecting the long term Support Zone.WTI Crude Oil is neutral on its 1D technical outlook (RSI = 48.339, MACD = -0.320, ADX = 27.988) as it is recovering from last week's red candle that almost touched the S1 Zone. As long this holds, WTI will be bullish on the medium term at least, as on the long term the formation of the 1W Death Cross is bearish. The presence of the LH trendline doesn't allow much room for higher targets and since the previous rebound on the S1 Zone (December 11th 2023) came close to the 0.786 Fibonacci level, our target is in the vicinity of those (TP = 78.00).
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OIL Bounce off trendline support Despite geopolitical issues worldwide, such as the Ukraine war, Gaza, and BRICS, crude oil is still in a consolidation period; the price has bounced from the lower trendline support and is expected to retest the prior trendline resistance at 76.799.
WTI "US CRUDE OIL" Market Heist Plan on Bearish SideOla! My Dear Robbers / Money Makers & Losers, 🤑💰
This is our master plan to Heist WTI "US CRUDE OIL" Market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Short entry. Our target is Green Zone that is High risk Dangerous level, market is oversold / Consolidation / Trend Reversal / Trap at the level Bullish Robbers / Traders gain the strength. Be safe and be careful and Be rich 💰.
Entry : Can be taken Anywhere, What I suggest you to Place Sell Limit Orders in 15 mins Timeframe Recent / Nearest Swing High
Stop Loss 🛑: Recent Swing High using 2h timeframe
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Warning : Fundamental Analysis news 📰 🗞️ comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update.
Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target.
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USOILUSOIL.
Will USOIL get bids from buyers ?
As the price is at strong support level and bullish divergence indicating the buyers may attack this zone. If this happens and buyers start buying from here then the next target could be 78 followed by 82.
What you guys think of this idea?
Will us-oil rise up ?Hi there ! today we will talk about US-OIL trade . As you can see from this chart , oil market crashed due to the conditions in the middle east and after that it has made complex up down movement near about 70.300.
As you can see here that oil made fakeout to the downside and made its upward movement as a valid bullish breakout. So this 70.250 zone seems very important for us to join the bullish momentum .
So we can buy from here , our stop loss goes below 69.471 and our take profit target can be set at least 4 times profits which is 74.00. Trade carefully and stay with ligand .
Can USOIL Bake For Us A Fresh Higher High?Let me save you the stress of reading long notes that has little or nothing to do with the analysis. It's a simple one, in a bullish trend, as you can see the tight structures on the 1Hr timeframe that signifies the aforementioned, the last created demand zone tend to be a potential trend continuation constituent, although I'd like to see some liquidity being grabbed by the pullback(check 5min TF for a clear view of the trend line), cause it gives me a stronger confirmation that the zone where I have my entry is going to be a positive one. Liquidity (i.e Trend line).
Do you think USOIL is still bearish, or probably displaying a strong sell momentum? Feel free to share on the comment section 🤗
Possible short term, long trade opportunity in USOILHello together,
Oil broke out of a daily downtrend (white solid) and has gone into an ABC correction, market by the 4 hour downtrend line (blue dotted). Price broke also above this and got directly rejected from the 4 hour support & resistance zone (blue bar) to the downside. If price can make it again above this small retest I will enter a long position with a risk reward ratio of 1.5. Stop Loss below the lowest point of the ABC correction.
USOil analysis - 23 Oct 202470.7 acts as an important level today & if price stays above this level then we expect it to hit our target profit at 71.75.
If price breaks below 70.7 then it should hit 69.7.
Below is our recommendation;
Trade 1 (Risk 0.5% of your account size);
Buy USOil @ 71.00
Stop Loss @ 70.7
Take Profit @ 71.75
Trade 2 (Risk 1% of your account size);
Sell Stop USOil @ 70.7
Stop Loss @ 71
Take Profit @ 69.7
*Total risk is 1.5%, In case Trade 1 hits target profit then Trade 2 order must be deleted.
The Best Hedging Strategy For Oil | Creating A Trading SystemThis is how I trade all Markets for income.
You can protect capital in various ways, with various risk approaches.
I've found that on Markets like oil, this is far more profitable.
Market Analysis: WTI Crude Oil Eyes RecoveryMarket Analysis: WTI Crude Oil Eyes Recovery
Crude oil is recovering and might rise toward the $73.85 resistance zone.
Important Takeaways for Oil Price Analysis Today
- Crude oil is recovering losses and trading above the $70.50 support.
- There was a break above a connecting bearish trend line with resistance near $70.00 on the hourly chart of XTI/USD at FXOpen.
WTI Crude Oil Price Technical Analysis
On the hourly chart of WTI Crude Oil at FXOpen, the price found support near the $68.15 zone against the US Dollar. The price formed a base and started a recovery wave above $70.00 and the 50-hour simple moving average.
The bulls were able to push the price toward the 50% Fib retracement level of the downward move from the $75.61 swing high to the $68.13 swing low. Besides, there was a break above a connecting bearish trend line with resistance near $70.00.
The hourly RSI is near the 70 level, but the price is struggling near $71.85. The next resistance is near the 61.8% Fib retracement level of the downward move from the $75.61 swing high to the $68.13 swing low at $72.75.
A clear move above the $72.75 could send the price toward the $73.85 resistance. Any more gains might send the price toward the $75.60 level. Conversely, the price might start a fresh decline from the $71.85 resistance.
Immediate support sits near the $70.50 level. The next major support on the WTI crude oil chart is $68.15. If there is a downside break, the price might decline toward $66.00. Any more losses may perhaps open the doors for a move toward the $65.00 support zone.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
