This one should be fun, let's see if I get my bias right this time apart from my entry. I learned something new.
Long Oil For Intrday. Good Risk Reward
Will SHS be created? If price hits support level, we will have a clear opportunity to go long. Now its time to see how the price develops.
USOIL is tough to predict in these sideways corrective waves, however there are some knowns based on wave structure. The most potential outcome based on recent structure is further downside. A bearish impulse off of recent highs will solidify the speculation and garner a potential short. Keep an eye out for a drop. Happy trading
This trading idea is based on the daily chart of WTI and technical tools like trend lines and support/resistance levels. We can think about possible price action and find entry levels for future trades. The price bounced from the uptrend line and the support level. It can be a good entry level for long trades with target at the resistance level 56.00. Stop orders...
Outlook to see subtle B wave adjustment, and then down, the trend upward. 53.81 in the top, then fell to the target position: 49.10
- Whether you believe in cycles or not. Whether you believe in manipulation or not.. Whether you believe in Santa Claus or not..... OPEC News and Events that moved oil , and the trajectories that followed. More recent channel trajectories.
WTI seems broken out of a flag formation, the breakout was at $3 area, now if it breaks about $3.50 we would consider long up to $4.37 & higher. Trade Criteria Entry Target Criteria- Break of $3.50 Exit Target Criteria- $4.37 & higher Stop Loss Criteria- $ You can check detailed analysis on -- in the trading room/ Executive summary link...
C point between Fibo. 61.8 & 78.6 watch price action
This market has moved downward with increasing speed since being rejected at key resistance zone. Passed the opportunity to short from the first pullback yesterday as the potential support zone 51.6 from Daily is nearby. Waiting for shorting opportunity from this second pullback to 20ema or re-test of broken support.