Hello guys, here are the levels for trading on Tuesday. The market pushed higher on Monday, but not enough to reach our sell level, as of right now, if the market keeps moving higher, i will be looking to take some shorts at some key levels like XH or R3 depending on whether or not we get our setup at that point.
PLAN YOUR TRADE AND TRADE YOUR PLAN
Last post: June 16th. See chart.
Review: Price had broken through key support but closed within a zonal area and just above the next pivot support.
Update: Price has bounced off support and closed back above the previous support suggesting further strength.
Conclusion: Looking for further momentum with the bulls and close above the round number 80 to place...
Last post: June 5th. See chart.
Review: Price was being propped up by a pivot support zone and the daily 50sma.
Update: Price has broken through support with an aggressive bearish bar on Friday.
Conclusion: Price is within a support zone that we want to see hold strong. Any further weakness and we will look to cut out of our long trade.
Any comments or...
Last post: June 4th. See chart.
Review: Price was pulling back to retest a previous pivot support level.
Update: Price attempted to break through support but failed producing a potential indecision candle today.
Conclusion: Looking for support to stay strong and for the bulls to make a move back up to $80.
Any comments or questions, do not hesitate to...
USD CAD looks great on every timeframe except the weekly...Looks like we could be inside of a falling wedge. 1.30 has proven to be strong resistance many times in the past, the weekly close candle looks like a hanging man. Crude oil dropped big on Friday, if we get a bounce in oil, this may drive UCAD down...
I have been chasing a down movement, most of my charts on WTI are bearish although I put a good LONG some weeks ago. (See my twitter feed taking about a triple divergence)
Next week I am seeing a high chance of WTI going down hard, next jump may reach 80's but it has to go down and get some impulse before we get there. The question is how far will it go?
CHART TIMEFRAME : H4
INDICATORS: EMA50 & EMA100
CHART PATTERNS: Double Bottom and Potential Bearish Harmonic Pattern to be completed at D Leg. - Fibonacci 88.60 of XA -
NOTES: 63.00 Neckline of the DB
AREA OF ENTRY: Current Level and Possible Retracement EMA50 Support.
Details as described on the chart.
DISCLAIMER: This is a technical analysis study, not an...
We were calling an up and down move since last week for WTI (Crude Oil) so we entered a LONG position targeting at 62.30 for a first.
We expect oil to move around 64 and then go back to 55-56 levels. As you can see in the chart, a downtrend channel is probable.
Let's wait for confirmation before doing anything.
One of the economic releases of the day was the U.S. Crude Oil Inventories which helps measures the weekly change in the number of barrels of commercial crude oil held by US firms. The way it works is that the amount of inventories helps influence the price petroleum products which can have an encounter with the inflation rates. Traders have got two things which...
US crude oil - H4 chart - I prefer shorts due to bearish structure on H4 time frame. Main trend is still bullish so this is a reversal setup on daily time frame but with-trend pull back setup on H4 so quick swing with great risk to reward.