Short MCLQ2024. sell at 80.92. stop at 81.49. limit at 80.15Daily chart of the MCLQ is showing consolidation/weakness. Lower time frames showing down trend. RSI on 8hr weakening. support at $80. Need to get out of trade before MCLQ hits $80. by ota10080
CL (Oil) Long Idea - Bullish Divergence Buy at MarketAnalysis on hourly and 15 minute time frame S/R marked on hourly, trade execution on 15 minute time frame Looking for CL(Oil) to continue uptrend holding hourly support Entry at 0xurrent price targeting the highs as TP and SL below hourly support level 1:1.5 RR TradeLongby wasiheider0
Avoid FOMO of oil being bullish Until the price is below 7000 mark we cant say oil has turned bullish there is volume imbalance and bearish fvg on daily time frame around 6887 to 6771 where there is high probability price to get reject those who are in long trade before try to trail your stop and those who are looking for fresh long AVOID !! by Jimmy_RebelloUpdated 1
Light Crude OilLight crude oil, with the fall of several months and the price correction, is now close to the main support and the past purchases made by investors. who have placed an order will approach and make a loss, and by following their analytical and investment path, you can achieve a good profit in the long term. SashacharkhchianLongby sashacharkhchianUpdated 0
2024-06-25 - priceactiontds - daily update - oilGood Evening and I hope you are well. wti crude oil comment: Trading range at the highs but bears printing bigger bars and they broke out of the bull channel that started 2 weeks ago. Measured move down would bring us to around the breakout retest price area 78.5 / 78.8. Bulls still want to break above 82 for 83/84 and test the bear trend lines again. current market cycle: Trading range key levels: 80 - 82 bull case: Bulls still see this as a second leg of a pullback around the lower bull trend line and they want to start their third leg (W5) up to 83/84. They need to keep it above 80 or bears might get cheeky and want to push it to the daily ema around 78.8, which would also be a breakout retest. Invalid below 80. bear case: Bears are not able to print two decent looking consecutive bear bars on higher time frames. Until they get much stronger or give up again, best they can probably hope for is sideways around 80. Selling today looks like a leg inside a trading range and not a stronger pullback below 80. short term: Neutral 80-82. It’s moving sideways. Don’t make it more complicated. medium-long term: We are seeing the big triangle playing out between 72 and 86 (could also be 87 but for now I see the spike above 83 as a failed breakout of the triangle. We hit the lower trend line and now we will test back up to above 83. —will update this Wednesday current swing trade: None trade of the day: Buy low, sell high and scalp. Clear key levels given by priceactiontds0
Can Crude Surge Into Month-end?Please note the chart above is continuous front-month Crude, and we are referencing the August contract below. Crude Oil (August) Yesterday’s close: Settled at 81.63, up 0.90 WTI Crude Oil futures rebounded well to start the week, responding to a critical area of technical support. Furthermore, the healthy consolidation at and above the psychological $80 mark could be a launchpad for a strong finish to the month, bringing Crude Oil its best month since September. We have two layers of major three-star support at 80.61-80.86 and 80.11-80.36, and we believe a hold above here sets a constructive path for higher prices. Bias: Bullish/Neutral Resistance: 81.79**, 82.24-82.35*** Pivot: 81.17-81.40 Support: 80.61-80.86***, 80.11-80.36***, 79.72-79.97**, 78.61-78.94*** Check out CME Group real-time data plans available on TradingView here: www.tradingview.com Disclaimers: CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.by Blue_Line_Futures0
Crude Oil live trading with Weis Wave Indicator (Wyckoff)Indicator is provided by VolumeDayTrader.com The Weis Wave Indicator, often referred to as the Wyckoff Wave Indicator, is a technical analysis tool based on the principles of Richard D. Wyckoff. It was developed by David Weis and aims to visualize price and volume relationships to better understand market dynamics. This indicator is particularly useful in identifying accumulation and distribution phases, as well as the strength of trends. Key Components of the Weis Wave Indicator Wave Counting: The Weis Wave Indicator aggregates volume for each price wave (a directional move in price). This aggregation helps in understanding the strength and duration of each wave, providing insights into supply and demand dynamics. Volume Analysis: By associating volume with price waves, traders can discern whether a wave is supported by significant buying or selling pressure. High volume on an upward wave suggests strong buying interest, while high volume on a downward wave suggests strong selling pressure. Trend Identification: The indicator helps in identifying the direction and strength of trends. Consistent high-volume upward waves indicate a strong bullish trend, while consistent high-volume downward waves indicate a strong bearish trend. How to Use the Weis Wave Indicator Identify Waves: The indicator identifies price waves by aggregating volume for each directional move. These waves are then displayed on the chart, often as histograms or bars representing the cumulative volume for each wave. Analyze Volume Patterns: Look for patterns in the volume associated with each wave. For example, increasing volume on successive upward waves suggests increasing buying pressure, while decreasing volume on upward waves might suggest weakening demand. Assess Market Phases: Use the indicator to identify accumulation and distribution phases. During accumulation, you might see lower volume on downward waves and increasing volume on upward waves. During distribution, you might see the opposite. Confirm Breakouts: When the price breaks out of a trading range, use the Weis Wave Indicator to confirm the breakout. A breakout with high volume on the wave suggests a strong move, while a breakout with low volume might indicate a false move. Practical Applications Trading Range Analysis: In a trading range, analyze the volume associated with up and down waves. Increasing volume on up waves within the range can indicate accumulation, while increasing volume on down waves can indicate distribution. Trend Confirmation: Use the Weis Wave Indicator to confirm trends. In an uptrend, look for higher volume on up waves and lower volume on down waves. In a downtrend, look for higher volume on down waves and lower volume on up waves. Entry and Exit Points: The indicator can help identify potential entry and exit points. For example, enter a long position when an upward wave with high volume breaks a resistance level. Conversely, exit when a downward wave with high volume breaks a support level. Conclusion The Weis Wave Indicator is a powerful tool for traders looking to apply Wyckoff’s principles to modern markets. By focusing on the relationship between price movements and volume, the indicator provides valuable insights into market behavior, helping traders make more informed decisions. Whether you're identifying market phases, confirming trends, or pinpointing entry and exit points, the Weis Wave Indicator can be an essential part of your technical analysis toolkit. Short14:04by VolumeDayTrader1
Long CL @ 80.20 - Test of SupportOil has had a large run-up of $10 over the last two and a half weeks. I believe Friday's selloff was mostly due to exhaustion and the start of consolidation after this large rally. Given the continued geopolitical risks. I expect oil to re-test the $80 level before increasing back to the upside. There is large resting liquidity around the $80 - $80.30 levels, so if we get down there I think CL will find major support and return to $81+. Longby SkyIsCallingUpdated 0
Weekend Wizardry On Crude OilRight now It makes no sense in my mind why the market would want to return to being bearish. Yes we are in a premium and after a couple days of upwards movement there can be some stagnent action for traders who like to take more than 25-40 ticks ona single move. So again why would market want to move lower on a htf bases as pointed in my arrows we have a Daily FVG whcih I will be watching price to respect and create a discount in that FVG The wicks from Friday and Monday Daily chart show immediate rebalance and a propell higher is what I am looking for. Given Monday can be opposing price to what Tues and Wed Provide... wink wink Magnet shows my target for next week. to revisit this and whilst in fvg how do we close? Daily fvg CE? I really do look at price on the day to day basis weekly targets yes but this is a subconscious thought when im trading pacific times of the day. Longby IamThattraderUpdated 0
Crude Oil Beginning Minor Wave BCrude oil has completed a clear count of five waves up, completing minor wave A. It should now be starting a decline that will make up wave B. While it is impossible to specify a shape or target for wave B with any certainty so early, statistically, B waves inside of zigzags usually form zigzags themselves and usually retrace at least 50% of wave A. Shortby epistemophiliac1
Crude Oil Thursday Rumble...As we are in Bullish territory on the HTF the Daily FVG bellow is where I am anticipating price to retrace too leading upto 0930est... Does it have to retrace there? No. However I am Looking at Bullish bias towards the Daily V.i Marked in the chart for a Target and Forecast going forward... Pretty simple.Longby IamThattrader0
Crude Oil Finishing Minor Wave A of EI can clearly count five waves up, implying that wave A should be about finished. Prices also seemed to have stalled at the resistance caused by the end of minor wave B at the previous zigzag of wave D (red resistance line). The next wave down should be wave B of a zigzag for which the 50% Fibonacci retracement level is a reasonable target but by no means the only option. Once the final zigzag up finishes, we should see a breakout from the triangle on the downside. Shortby epistemophiliac1
#202425 - a weekly price action market recap and outlook - oilGood Evening and I hope you are well. wti crude oil futures Quote from last week: bull case: The best the bulls can hope for, is for the lows to hold and to move sideways and hit the daily ema again. They failed at keeping it above 75, which was huge support. Last bear leg inside this bigger trading range was 11 weeks long from high to low and we are currently at 9 weeks. Bulls will want to find support here around 70-72 and trade back up to at least 78 over the next 8-12 weeks. comment: After Monday there was no question that bulls took control again and the bear trend is over. Bears now fight to keep this a lower high and retest the 72.48 low but for now, market is in balance around 78. Bulls want to break out of the bear channel and test 80 again. current market cycle: trading range key levels: 72-79 bull case: Strong week by the bulls with 3 pushes up but still a lower high. Their next target is to get back above 80.22. Right now they have momentum going but big down, big up mostly creates confusion and that means trading range. Above 79.5 I will probably long for 80. They need to stay above 77 or odds favor a retest of the lows below 74. Invalidation is below 77. bear case: Huge bear surprise the week before and now a big bull surprise. Most reasonable thing here is for the market to move more sideways, probably still inside the very big triangle 73 - 81.5. If bears get below 77, they want to retest the lows below 74, which is also what I think has the slightly better odds next week but I would wait for confirmation. Invalidation is above 80.6. outlook last week: “Neutral because I think we will hit the daily ema again and a retest of 72.5ish. I am not a fortune teller so I don’t know which comes first. I will watch the price action and give daily updates here on substack and intraday in my trading room.” → Last Sunday we traded 75.53 and now we are at 78.45. I said we will hit the daily 20ema which was 140 upwards. On Monday there was no question we will get there, so I hope you made some. Did not expect bears to just disappear afterwards and let the market trade above for the whole week. short term: Neutral right under the bear channel line and daily ema at 77.5. Can break to either side. medium-long term: We are seeing the big triangle playing out between 72 and 82. The high of the triangle got tested until mid of April and we have now tested the lows around 72.5. Market will probably move more inside this big range until we get a new big cycle to either side. —unchanged current swing trade: None chart update: Adjusted both two-legged corrections to fit the current pattern better but the C target is very questionable as of now. We need more price action to know where market wants to go from here.by priceactiontds0
CRUDEOIL 30 MINLETS SEE WHAT HAPPENS...!! I Am Not SEBI Registered Analyst. All Post and Levels Posting is only for educational and knowledge purpose. I Am not responsible for your any kind of loss or profit. No Claim, All Rights Reserved.‼️Longby saimandali0
Playing spread - 50 / 47 on CL_F$CL_f has bounced of support @ 48.40 while prev. week has supported break above this level. this is possibly last area of resistance before move back to 49.x ish level.. considering playing Spread to take advantage of range between - 50 / 47by theboilerroomUpdated 0
CL / Crude Oil ShortContext: • Monthly: First signs of bearish orderflow. Bearish FVG in the making • Weekly: Bearish FVGs getting respeced • Daily: Rejection and break below prev. day low. Caution because of two bullish FVGs Idea: • 1h-4h Mitigation Block with 1h close below prev day low. • Respecting 1h FVgs • Inside current 1h candle on 15min closed last 15min bullish FVG • Potentially building a balanced price range on 15min → Long around prev. day low about 77.88 Target: • 1st would be currend day low • 2nd: Upper limit of daily FVG at 77.22 Entry / Stop: • Reversal Setup with stop above the entry signal • Or at 77.88 with stop about 78.05 Signal invalidated: • breaking lower withoug looking back • Prive going above 78.05 I want the current 15min-Candle to close inside the range of the previous 15min candle. Be careful about News in about 30minutes! Please feel free to comment Shortby MichaelBwUpdated 0
Crude Oil - Bullish long-term - Bearish short-termCrude oil moved as we expected. Now in the next days we can expect it to follow the red scenario and reach the $75 area. If we see prices around $75 I'll put another update. Context is BULLISH for Crude oil and DXY is showing weakness after yesterday's FOMC meeting and the market is more confident about the rate cuts in September than last week. SO BE CAREFUL with your short positions.Longby SamanFx00
Crude oil eyes $80, but resistance loomsWTI is on track for a bullish engulfing week to snap a 3-week losing streak. And as it fell over 17% from the April high, it could pave the way for further gains in the coming weeks. However, there are plenty of resistance levels around the $80 that could spur bears from the side lines. The May VPOC and VAH sit around Wednesday's high, and the monthly R1 and weekly R2 near the May high. So whilst another crack at $80 seems more likely than note, the $80 area could be an interesting area to fade into. Strong support sits around $75.50, making it a viable target for bears and area for bulls to reconsider entering for an anticipated move above $80. by CityIndex1
BUY CL (CRUDE OIL)BUY CL at the 79.15 or the 78.00 price levels, going back up to the 90.00 to 95.00 price and beyond.Longby pstock123Updated 2
Crude Futures Push Above The 200 DMATechnical Momentum Strengthens Crude Oil futures are rebounding in 2024 after trading above the 200-day moving average at $77.54. The technical perspective shows momentum studies rising from oversold territories, while the 9-day moving average trades below the 18-day. DMI- is slightly above DMI +, indicating that the market is still in a correction phase, while the Average True Range declines to $1.77 daily, showing an uptick in volatility. API Inventories Decline API Inventory has decreased recently, indicating a tighter supply picture. Recent API inventory data shows a decline of 2.4 million barrels. The current EIA inventories are 455 million barrels, compared to the five-year average of 474 million barrels for this period. Cushing stocks in the Midwest show 35 million barrels in inventory versus a five-year average of 42 million barrels. Middle East Tensions Rise The U.S. economy continues to expand in 2024, driven by the high probability of a soft landing, which fuels investor sentiment. Geopolitical tensions have increased recently, indicating the possibility of a widening Middle Eastern conflict in the future. Traders will remain focused on inflation data, inventory productions, and the direction of economic data. www.tradingview.com CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs Disclaimers *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.Longby Phil_Blue_Line0
Crude Oil "Triangle Pattern" Target 7100 and "Wolf Wave Target"A "Triangle Pattern" has formed in Crude Oil and Downtrend has "Breakout". So market is Bullish Trend. And the Target is Triangle's Top Trendline at INR 7100. Additionally, Expect a Breakout of the Triangle Pattern. Don't miss the "Wolf Wave Target" Opportunity. If Breakout the Triangle Pattern, then the Next 2nd Target is Wolf Wave. Refer to the below image for Wolf Wave Target Achieved in Ethereum. Guess 3rd Target ??? I want to help people Make Profit all over the "World". Additionally, I am Eager to Receive Money form Worldwide because of my Potential. Thank you Longby SasikumarMani2