TheDemonTrader

TheDemonTrader

TRADE DIRECTION: SHORT; as indicated by the red EMA cloud and the market structure. KEY LEVEL: 1) Round numbers S&R with 25 ticks range between each level (hidden) 2) Monthly, Weekly and Daily Pivot levels. TRIGGER SIGNAL: Price broke the previous day's low (green circle) and retraced to the bearish EMA cloud. A bearish pin bar (in yellow circle) formed as a...

TheDemonTrader

TRADE DIRECTION: SHORT; as indicated by the 4H-EMA 50 (yellow line) and the market structure. KEY LEVEL: Round numbers S&R with 50 ticks range between each level. TRIGGER SIGNAL: Doji and bearish pin bar (red arrows) with price failed to close above 79.50. RR: 1:1 SL: 100 Ticks TP: 100 Ticks (achieved)

TheDemonTrader

The price seems not able to close below the 81.00 level. The 5 green arrows showed that buyers keep on pushing the price upward. As a Day Trader, this is an opportunity for a counter-trend trade, because it is obvious that we are in a downtrend at the 4-hour chart. TRADE DIRECTION: Long KEY LEVEL: 81.00 TRIGGER SIGNAL: Bullish pin bar (yellow arrow), supported...

TheDemonTrader Updated 

Price broke the downward trendline (red line) and the bearish market structure. Now it is forming a bullish continuation pennant. It's possible the price will make a bearish fake out before reversing up. Let's wait for the confirmation on which direction of trades we should take.

TheDemonTrader Updated 

TRADE DIRECTION: SHORT; as indicated by the downward trendline (red line) and the market structure. KEY LEVEL: Round numbers S&R with 50 ticks range between each level. TRIGGER SIGNAL: Broke bearish pennant with the confluence from 2 trend continuation candles (red arrows). RR: 1:1.7 SL: 88 Ticks TP: 150 Ticks

TheDemonTrader

TRADE DIRECTION: SHORT; as indicated by the downward trendline and the market structure. KEY LEVEL: Round numbers S&R with 50 ticks range between each level. TRIGGER SIGNAL: 4 bearish reversal candles RR: 1:2 SL: 74 Ticks TP: 150 Ticks

TheDemonTrader Updated 

TRADE DIRECTION: LONG Price broke and closed above the Short-Term Trendline (red line). Before that, there were many candlesticks with long lower wicks (yellow eclipses) and bullish reversal candles (green arrows) formed around the lower line of the Parallel Channel (green dashed line), indicating buyers had started to accumulate long positions and sellers took...

TheDemonTrader

TRADE DIRECTION: Downtrend; as indicated by the red trendline KEY LEVELS: Daily Pivot and the red trendline TRIGGER SIGNAL: Dark Cloud Cover and Bearish Pin Bar closed below the Daily Pivot

TheDemonTrader

TRADE DIRECTION: Downtrend; as indicated by the red trendline KEY LEVELS: Daily Pivot and the red trendline; price failed to break and close above it. TRIGGER SIGNAL: Bearish Engulfing (red arrow)

TheDemonTrader Updated 

Today is 11 October 2021. It's not even half of the month yet but price of FCPO has reached Monthly R2 (Traditional Pivot). That indicates the price is already overstretched. I believed the price should retrace. Furthermore, The bearish divergence does support the wave count that price already topped for wave 3 base on Elliott Wave count. Further confirmation is...

TheDemonTrader

Anyone with a different wave count? Feel free to comment.

TheDemonTrader Updated 

EMA 8 (yellow line) is above EMA 21 (red line) at 1H. So, the current intraday trend is UP. Price retraced between 50% and 61.8% (yellow fibo lines) and formed a bullish pin bar (green arrow) at 1H that closed above R1 and R2. I'm targeting 65.65. It should break above the purple line but needs to be careful because the price bounced exactly at 61.8% retracement...

TheDemonTrader Updated 

Will look for bullish reversal candle at one of the green boxes or at 38.2% / 50% / 61.8% retracement level at Daily or 4H time frame.

TheDemonTrader Updated 

Hi, I just came back from a long holiday since November last year. I hope you are all in good shape physically, mentally and spiritually. May 2019 be an excellent year for us raking profits from the oil market. :) The price of crude oil is moving above the Daily 9 EMA (pink line) and also the EMA 21 (blue line) and EMA 34 (black line). That should give us a...

TheDemonTrader

*for the chart above, please ignore the price scale. That is just a text book example. At Daily time frame, if price can break below the blue box area (refer to the chart below), then I'm thinking it's going to be an impulsive wave (5 legs) which means more downside to go and it will not be a zigzag pattern at smaller time frame.

TheDemonTrader

I'm doing some observations on using fibonacci pivot as the only Support & Resistance to trade with candle stick. This is what I can see: Red = monthly pivots Blue = weekly pivots Black = daily pivots It seems quite reliable . Does anyone knows the real correlation of fibonacci pivots with Crude Oil? What about correlation of Crude Oil with other types of...

TheDemonTrader Updated 

At CL1!, price is entering a strong supply zone, marked by the top red rectangle box. It is a strong zone because this is Daily time frame. The long black candle marked by the red arrow is a proof that we are in the strong supply zone. Retailers must be careful because this is the place where the banks will play us out by hunting our stop losses. We don't know...

TheDemonTrader Updated 

The current rise doesn't fit the bearish divergence at Daily tf. There was a shooting star at Daily on 12th September 2018 and it bounced at the supply area. That showed the banks were there to sell more. I think it's wise to go short term trades, if you're still keen to side with the bulls. As always, these are just probabilities. Actual price might unfold...