Yesterday, bulls managed to break the upper, descending boundary of the contracting triangle temporarily but faced stiff resistance and failed to hold onto their gains. But taking into account the fact the inability of the bears since late August to push the price lower significantly, I favor an eventual bullish breakout of the triangle for a thrust to the 54.5 -...
the trend has been broken and so we waif for a move in the uk oil.. looks like a flag continuation.
After a crazy week in the markets crude attempted a breakout. Now we are back at the scene of the crime. It's interesting that we see this pull back after Goldman Sachs releases their long term Crude forecast. Very fishy. Our eyes are on the 43 - 43.50 area. There are a lot of stops below this area and someone is fishing for them. If they get blown out we...
Bullish pennant formation along with fibonacci retracement suggest bounce back to $48 with 38% chance all else the same. Odds on Fed rate hike this Thursday are relatively slim which shouldn't be too alarming for oil market.
We have pulled our buy orders off the table with crude. We have seen 4 straight days of up and down so we will let crude trade on Monday before accessing. However, crude is consolidating which means another move will happen soon. OPEC says prices will continue to stay low until the beginning of the year. Will they be right or will the bulls force the issue? ...
We are still watching crude for an entry long. We would like to see price re-visit the trigger zone and touch the lower flag. We are being CAUTIOUS with crude. This beast can blow through an area quickly so MAKE SURE IF YOU ARE TRADING CRUDE YOU ARE USING A TRIGGER! Define your risk and be good with it.
Would of, should of, could of...That was another nice move off the trigger area but as we mentioned before it wasn't deep enough into our zone. Now crude was rejected at the upper flag so we expect price to fall into the range and hopefully test the lower flag in our zone. Patience is needed! It's on our watch list.
After a strong bounce from low bydaily and weekly divergence we have to retrace before continue this bull run SL 52,3 TP 45,4 (for sure) Enter whatever you like
Crude touched our trigger area but didn't go far enough in for us to take the trade. It would have worked nicely but didn't meet our criteria. If crude re-visits our zone then it most likely will touch the lower part of the flag. For us...we will look for a test to the lower part of the flag to get a trigger. NO TRIGGER, NO TRADE! LESSON: Have a criteria...
Crude is experiencing some incredible moves which may be a sign a bottom is near. When bottoms form there is wider moves with volatility...we are watching the trigger zone for a possible long entry. We will keep a tight leash on the trade is it triggers. You never know with crude. NO TRIGGER...NO TRADE!
We saw an acceleration of buying above $47.00. It's safe to say a lot of shorts got shaken out of the market. Now we watch. We look for consolidation or a pullback to the $42 area. Will OPEC follow through with it's comments or will a rate hike send crude back down to the lows? It will be a tug of war and we are placing our bets on OPEC. We are seeking to...
After a rocket off the bottom and a nice trade, Crude needs a rest. Is the bottom in? We don't so...soon though. We feel crude could make another attempt at a bottom to shake out the weak longs. However, if crude wants more upside from here we will need to see some consolidation. Above the $47 and we could see an accelerated squeeze. Crude is on our daily...
Well...that was quick. Off the Descending triangle we were able to take advantage of a very quick move and ring the bell on a nice winner. Lessons for all: Define your trade - Wait for it to happen - manage it as defined - control emotions. We are flat and will see how the pullbacks look.
Crude moved fast and furious so we took some off at 42.04 and pulled stops to our entry level. We weren't expecting this quick of a move so we had to adjust. That is trading...noting is static. It's a free trade and we will trail the stop until we see target #2 or get taken out.
Oil Futures looks another quite harmonic trend "follower" for the 126 daily EMA as Vortex for the FRACTAL DEVIATION BANDS study.
After waiting...we are long Crude (WTI). We like the potential of this trade and are looking for a larger than normal first target. We will keep this on a tight leash. In lieu of shorter targets we will move our stops up as we gain more in the trade.
We are still waiting. As Crude continues to drop we have to move our entry down. A descending channel break to the upside should see a nice pop. No Trigger, No Trade! Be patient with this one. Crude can clean out your account quickly.
The price of oil continues to be fun to trade and watch. We like to short oil when it rallies to the 8 EMA but we are watching closely as we have been oversold for quite some time and we expect that to revert at some point. To get a little more analysis, check out our market snapshot! Cheers, The Enhancing Capital Team