Crude oil trading reminder: triple positive support
USOIL
Idea: Crude oil trading reminder: tr…WTI WTI
USOIL Idea: Crude oil trading reminder: tr…
WTI WTIUS WTI Crude (Spot) (XTIUSD) forum
OIL_CRUDE Here is a representation of how NDOG and NWOG work hand in hand.
This strategy is great in consolidating markets especially just before a breakout.
Open to questions and constructive criticism
WTICOUSD Call This Crazy 2.0 We've got another fake breakout from the high of the Inside Day at 67.239, so back down again towards the Swing Low of 66.367. Let's see if it's a true breakout on that end. And will they even reach down that far?
*Side Note:
The candles have still stayed below the Ascending Wedge created by the two trendlines (in red and green dotted line). Still amazing.
OIL_CRUDE Some of you need to be teachable enough to understand and comprehend how to trade oil. There are few terms called NDOG and NWOG.
NDOG is the new day opening gap which is the gap between closure of the last candle before end of day and opening of first candle of the new session.
NWOG is the new week opening gap which is the gap between Friday closure and Monday opening.
These gaps act like magnet. And when in consolidation that’s how money Is made. This is not retail level knowledge it’s market makers level
Price today literally rejected the 50% mid point of the NWOG and kept bouncing of the 50% mid point of the NDOG
WTICOUSD Oil has been sniffing its own fumes from a paper bag. It's gotten totally stoned.
USOIL Call me when oil is trending 🤙🏼USOIL Youre all fighting a lost battle with oil, there are better assets trending than this piece of heap ! I closed all my positions here, oil can retire for now it’s doing absolutely nothing , don’t waste time trading this slug 🐌
WTICOUSD Looks like a fake breakout at the low of the Inside Day at 66.407 (shown as an orange line). Let's see how far the bulls rally - potentially to 66.700 through Mean Reversion - then head back down again because the Hourly is still in Bearish (directional) Market Bias.*Reminder:
The midline of the previous very tall bearish candle, all the way up to its high, is a strong Resistance Zone, which is a real challenge for the bulls.
OILUSD we might not see $100 yet. I closed my buy positions. Not enough momentum to the upside at this area (tho can only confirm only after D1 candle closes). And it’s currently respecting a market structure break to the downside. We could indeed go back to the lows again and I’ll see then. Maybe a double bottom…maybe.
WTICOUSD we went almost to the top of this channel. The last move down was attributed by the news:Trump administration greenlights Chevron to resume pumping oil in Venezuela - WSJ citing sources.
We have to remember the long term rhetoric is still oversupply. There is only 4 hours of trading left, 2 of which is typically slow with low volatility. I think time to cook dinner for my son, watch a film and chill. Good luck if you trade.
