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USOIL on a descendi ng channel 🦐USOIL on the 4h chart is trading inside a descending channel in a series of lower low lower high. The price tested the weekly support and moved back above the structure, testing now the upper trendline. How can i approach this scenario? I will wait for a potential break of the channel and if that will occur i will look for a nice order according to the Plancton's strategy rules, -–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
TVC:USOIL
by InkyGrip
24
20 Reason for sell OIL 🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️ 1 ✨Eagle eye: Sideways 2 📆Monthly: Bullish to corrective mode 3 📅Weekly: a clear bear trend is established with proper lower lows 4 🕛Daily: bear and filled out corrective move now just ready for the next impulse move in bearish side 😇7 Dimension analysis 🟢 analysis time frame: Daily 5: 1 Price Structure: bear 6: 2 Pattern Candle Chart: long shadow rejected at resistance 7: 3 Volume: 8: 4 Momentum UNCONVENTIONAL Rsi: Sideways to bear 9: 5 Volatility measure Bollinger bands: rejected at the middle band 10: 6 Strength ADX: just beginning strength for bears 11: 7 Sentiment ROC: ✔️ Entry Time Frame: H4 12: Entry TF Structure: sideways 13: entry move: wait yet 14: Support resistance base: upper resistence 15: FIB: nil ☑️ final comments: wait for breakout 16: 💡decision: sell 17: 🚀Entry:79.90 18: ✋Stop losel: 81.5 19: 🎯Take profit: 73.66 20: 😊Risk to reward Ratio: 1:6 🕛 Excepted Duration: 10 days
TVC:USOILShort
by Optimum369
How to profit from Crude Oil - LONG (and short) The USA is in a political battle over the price of oil with OPEC and right now they are winning, but how low can they go? Not too much lower actually, they need to start buying again to ensure their strategic reserves remain useful and not at risk of dropping below the requried levels to support the country in times of emergency. OPEC $64 - To ensure OPEC break even on oil product, they will control the market above SPR $72 - To replenish the reserves the USA is a buyer at $67 - $72 a barrel, not too far from where we are now EU $70 - The EU are in talks to ensure Russian oil cannot be sold above $70 Pin Bar $77 - We have a bin bar rejection to support the market move North again Fib 78.6% - We've rejected this level 7 times on the weekly and daily chart Target 1 - We've already tested and profited from this move upto $82 and we'll be doing that again Target 2 - Fib 61.8% at 88 will be our next target Target 3 - Fib 50% at 92 will be our final target Short - If we break down past 77, we'll be a buyer just below at the SPR support levels.
CAPITALCOM:OIL_CRUDELong
by CBMotivation
2
BIG UPDATES PART 1 (CHAPTRE 3)We're back with breaking news Expecting oil retracement to the 85$ zone before a "ready to launch phase" Big pockets on the edge and i might sound crazy but we can touch the +100$ zone in a very short time of a period. Risk of your own and i wont recommend any TP or SL in this one If you lose don't blame me if you win don't thank me As always lose to win and risk to gain. that's the moto. The full chapter: 1) Sell "Done" 2) Buy "We are Here" 3) Sell
FX:USOILLong
by UnknownUnicorn2830187
3
USOIL Weekly Forecast Analysis 28 Nov-2 Dec 2022 USOIL Weekly Forecast Analysis 28 Nov-2 Dec 2022 We can see that this week, the current implied volatility is around 6.37% , down from 6.6% of last week. According to ATR calculations, we are currently on the 85th percentile, while with OVX we are on 88th percentile. Based on this data, we can expect on average, the movement from open to close of the weekly candle to be : In case of bullish - 5.25% In case of bearish - 4.6% With the current IV calculation, we have currently 27.6% that the close of the weekly candle is going to finish either above or below the next channel: TOP: 81.5 BOT: 71.5 At the same time, taking into consideration the high/low touch calculation from the previous values, we can expect for this week: 70% chance that we are going to touch the previous low of the weekly candle of 75.5(ALREADY HIT) 30% chance that we are going to touch the previous high of the weekly candle of 82.3 Lastly from a technical analysis point of view, currently 65% of the moving averages rating, are insinuating we are in a BEARISH trend.
TVC:USOIL
by exlux
USOIL Outlook - $76.50 ZONE POTENTIAL BREAKUSOIL is now at the 76.50 zone. It dropped all the way from 128.00. Price is about to break the 76.50 zone. My target is still the 40.00 zone. Market-makers may even push it further down to trap SELLERS. Price action is king!!!! -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- CHECK OUT MY PREVIOUS ANALYSIS!
TVC:USOILShort
by SMCSmartSniper1
2
Oil Outlook 2022 🛢️With global political tensions on the rise, the expectation for crude oil price seemed to be bullish across the mainstream media. Everyone seems to think that war=high crude oil prices. This is true. However OPEC+ just said they will likely be upping production in Jan 23 so price has been plummeting. I was actually surprised that price wasn't moving higher yet before this announcement, however algobuddy was telling us on the weekly that it's still in bear mode so I have been weary of long positions on my short term charts. I try to stick with the overall weekly or monthly trend. I also keep remembering when the US president said he'd like to see price of oil closer to $72 before he stops emptying reserves, and when a US president says something like this I like to think there are enough strings to pull that he can make it happen. This seems to be working out, as price is almost down to that exact number now, especially after OPEC's announcement. I do notice a broadening formation happing on the weekly chart right now around this area. This gives me the feeling that a big slingshot move up is coming. I'll keep my head on a swivel, but until we get a weekly algobuddy bull signal I am staying on the bear side for now. IF the talk of WW3 turns more and more likely into becoming reality, then I will start to think of a move to the upside. IF weekly candle crosses and closes back above the algobuddy thick ribbon line then I'll turn bullish. It's already made a new low and peeked below the previous weeks bar and is now back above its low. This is bullish for me, however if price continues to make new lows and more production ramp announcements I will jump on shorts. Looking forward to seeing how this week candle closes. If red, then we can see more downside move. Stay solvent my friends 💪 AlgoBuddy
NYMEX:CL1!
by QuantVue
Why buying oil Oil have to scenarios on is going up to 106 $ where it will form double bottom pattern . At 75 $ which is forming now . How it fail ? Close 2 days below 75 $ Second scenario , going down as we have double top at 92 $ . Where it can reach 70 $ I believe upside worth more risk . Because it more logical and reflect the indicators as we are in over sold monthly If we cross bellow 75 $ 2 days ill be seller to 70 max 63 For daily trades i believe we have a big bounce can kill the seller soon . GOOD LUCK
TVC:USOILLong
by tornadosoul
10
Crude prices under downside pressureCrude prices under downside pressure on the back of weaker demand outlook The recent break below the $92 short term support level has opened up the prospects for a further decline towards a test of the September 30th lows near $84, the bearish outlook can be technically supported by the fact that current price is below its 20 and 50 day simple moving averages, as well as the fact that the 14 day relative strength index has crossed below its respective signal line (bearish). Short positions can therefore be technically supported provided price is unable to push back above the recent support now turned resistance at $92. Short sellers may be looking for $84 and $81 as potential downside targets, while longs may be aiming for a retest of the $92 area with $93.54 in extension.
SKILLING:XBRUSDShort
by Skilling
USOIL Forecast: Position Trade IdeaHey trader, As you can the price is currently bearish running in the head and shoulders level 2, and below the 50 and bearish crossed short-term MAs. It is preparing to drop for the patterns L3 together for the 200 MA (that's visible on the MT4 chart). But that bias will be fully confirmed once the price has bearish closed and retested below the Daily Neckline and 8 MA (1st trade) or 3rd Weekly Key Lvl (2nd trade), to trigger what I call the "H&S C-E.1 & E.2 signals". However if the price decides to bullish rally to break and retest the 3rd Monthly Key Lvl and 8 MA, the bias will be rejected. With that said, take the trades at your own risk, because this is not financial advice. I'm just sharing my point of view, which you also can do in the comments section below. I don't mind if you do so; I'd love to know your thoughts! That's it for today. I hope you found value from this article. If you wish to see more content on trade ideas and psychology, click the posts linked below. You won't regret it. Trade Safe, Sphatrades.
TVC:USOILShort
by Doji-2k1
Cenovus Energy INC.CVE price chart analysis on the 3Day time frame 2015-Current. In line with my "Keep it simple stupid" philosophy, my trend analysis shows that when the 13 SMA crosses the 48 SMA, it is a notable occurrence, possibly indicating a change in trend upcoming. My buy or sell decision occurs when the red 48 SMA turns down (Bear) or up (Bull). This simple strategy shows me possible % gains if playing various long or short market equity instruments and entering/exiting the trade near or at these occurrences. Included is the 200 SMA line. My method of trading this ticker is to buy or short 100% of my position at the 13/48 SMA crosses (with 48 pivoting up or down) This helps my probability of success and risk factor. Using this method and resulting in 8 trades short and long, I could possibly have made around 75% gain on the downside since 2015, and an additional approx. 400% gain on the long side since Jan. 2021 had I been selling at these level. Normally I would be still holding the position until a new 13/48 SMA cross down (so return would be less). The support line is included around $14/sh mark for interests sake, as price would most likely bounce around there for a bit imo. I could also add other indicators such as custom buy sell signals and or MACD, RSI, SAR to assist my decision making but the trend based idea keeps me grounded in the trade. I generally use Heikin-Ashi candles for simplicity/clarity and also remove the wicks. None of this should be interpreted as financial advice, I am not a professional or certified financial adviser! all charts, and or analysis' are my personal opinions and observations only!
TSX:CVE
by Turtlecoins