I believe that successful trading strategies rely heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. Consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be a continuation or reversal. It requires...
long term range on weekly charts, price is facing resistance around 34 unable to cross this area, price around 28$ is crucial, if this sustains it may attempt to make a move upwards and can see the target of 47$
$SU, $XOM, $CVX, $SLB, etc
This is a pair trade idea based on CNQ/XLE pair cointegration. My calculations show that these two stocks diverged by more than 2 standard deviation and, based on mean reversion, should come back to mean. This pair's rolling mean is 28.3 over the last 280 trading sessions. The current value is 23.6 and one standard deviation is 1.8. The trad can be done by...
4R Weekly Short: Stop: 24.45 Enter: Market Target: 16.77
It might have a bit of consolidation cause last December and January 2015 supports are resistance today
This looks like the potential to be the start of a new Mark Up (MU) phase on CNQ. I will publish 2 charts, this one is the "trees" view, and the other will be the "forest" view. If anyone knows how to link 2 charts together that aren't already published please share. 1. Selling Climax (SC) on significant volume (-22.9M) 2. Automatic Reversal (AR) on increased...
Analysis on chart.. Good risk/reward offered here
The price of crude oil has been in a downtrend now for about 3 months. With this decline, oil stocks such as Canadian Natural Resource Ltd (USA) (NYSE:CNQ) have also come down in price. In fact, this equity has fallen roughly 13% from its peak back on July 1. However, the thing that really interests me is the pattern that is being formed on the daily chart. It is...