USOILPrice tested the flip resistance. The market is currently printing a descending triangle consolidation pattern. Possible price action patterns indicated.
Usoilprediction
BLACK GOLDLOVE IT AND HATE IT.
Oil is going to go into a steady decline.
No interest in trading it unless it hits $39.00 or $34.48.
Already called the first drop.
This is my overall long term bias.
If it does reach $34.48 I will be looking to hold long for 2-4 weeks.
My ultimate TP zone is just below $50.00.
OIL - Black dilemmaThis is not the best setup , I'm not going to trade this because right now there are much better possibilities on the market.
The 2 reasons it's worth taking a shot :
1. 200 SMA
2. Time wise we are arriving into the timing band of the possible ICL decline.
After the severe declines the 200 SMA acted as an important resistance many times
I used it in a few ideas too:
Right now we are in the 3rd daily cycle of this intermediate cycle.Oil had every chance to break the 200 SMA and start a trending move. It didn't happen though.
The 50 SMA and 200 SMA forms an unbreakable resistance after the strong uptrend from the negative prices.
I'm expecting a bottom between the end of October and middle of November.
I will use the Fibonacci retracement to set a target:
the 50% retracement seems a reasonable target in this decline.
USOILIf countries over the world get a lockdown schools, there will be no bus drivings kids to school so my target area is @28$.
Of course, using risk management is a MUST.
USOIL WTI BUY AFTER BREAKOUT CONFIRMATIONus oil is trading inside a triangle we expected a bullish breakout and buy usoil more as demand is increasing after opening lock-down all around the world
Being AgressiveIn the last operation i didn't wait for the peaks at the AO... now i know we are in a stable downtrend.
US OIL Long term short opportunity Whats going on everyone.
My favourite setup of the day is USOIL.
You can clearly see this asset is in a bearish structure, with a lower low, and now a lower high formation.
So whats next, logically? A new lower low.
We're starting to see OIL struggle in between the 61.8 and 78.6 fib extensions, and sellers are beginning to push price down.
Im short from this area, with stops set quite tight here.
Target: 34.06.
US OIL MAY CRUSH IN THE NEXT WEEKS ( TIME WILL TELL ) Please share with me your thoughts about it
Regards
USOIL Long PlayUSOIL looking perfect for a long
Huge rejection of the 78.6 as well as a higher low on the 1H timeframe.
The prior wick indidcates some strong buying pressure from the region below and a long makes a lot of sense.
Stops just below the prior hourly wick, take profit at $44.
Hope this helps.
US OIL ANALYSIS & FORECAST FOR THIS WEEK - GRAVITY CENTER Please share with me your thoughts,
Regards
Crude Oil Buy SetupDISCLAIMER:
My analysis is just a trading idea! As a trader you should consider your own risk:reward ratio and do proper lot sizing according to your margin and leverage level.
Good Luck!
Oil shortShorting oil from the 41.00 region down to $38.00.
I am using a 30 pip SL for a 200 pip TP!
Let me know if you caught 150 pips from my last oil trade?!Here is my next set up for oil. I have already taken some profit from the initial trade and I also still have some running. I am looking for a new entry as I don't believe the downside movement is complete yet!.
I have put in two red boxes where price could reject from but for me to enter again it would have to come back up to my zone!.
