cl, oil, day trading for Jan 16thFurther consolidation range action, will play the buy and sell zone until this market breaks and finds a new trend
Oil(wti)
USOIL (WTI): Trading Plan & Top Down Analysis
hey traders,
a lot of followers have asked about my thoughts on WTI and when can we expect a pullback after a selling rally.
currently, I still have a short trade active from 63.0 level BUT
the market has finally reached first strong structure support and analyzing a price action it looks like
indeed selling volumes are weakening.
on a weekly and on a daily you can see a very peculiar conjunction of vertical and horizontal support.
on 1h the price started coiling within a falling channel .
for us, a bullish breakout of it will signify a change in sentiment
so it will be a perfect confirmation to long the market.
target levels will be 59.75 / 61.0
stop strictly below the channels last L.L
*remember, this is not a call to action trade.
I give you my plan on execution.
Let the conditions to be met before trading!
ORBEX: Gold & Oil Sensitive to Trade Deal Text!Gold’s recent muted performance has been owed to missing trade deal details!
With the text likely to surface some time today or overnight following the official sign-off, market participants will see exactly what’s been agreed and whether this makes a good case for a buy or a sell.
Oil’s decline, however, has been owed to inventories build! Will the EIA save the day? Or are we going to see trade details taking charge of this market too?
Timestamps
XAUUSD 4H 02:20
WTI 4H 05:00
Trade safe
Stavros Tousios
Head of Investment Research
Orbex
This analysis is provided as general market commentary and does not constitute investment advice
oil, cl, day trading for Jan 14thOil yesterday made a clear break of the red support and ran hard as mentioned could happen. It is now in a new lower distribution and is saying further down as long as we do not go back above red zone top. This said does not mean a balance zone in this area does not form so will be watching for shorts around red zone top and then looking to see if oil is going to balance or break lower.
A break back into the prior balance will probably have us chopping back in the range the market held for a few days.
Trade Idea for a Short Scenario on Crude Oil by ThinkingAntsOkUse this as a guide to develop your setup:
Main items we can see on the 4hs chart:
a)The Price was rejected from a major resistance zone
b)Currently, we can see the price on the lower trendline of the ascending channel
c)If you are thinking about trading short scenarios, we will wait for a corrective structure in the current area.
d)The corrective structure must be an ABC or an ABCDE Pattern (Triangle/Zig-Zag/Flat/Irregular)
e)If that happens we will set short orders as shown on the chart
Remember we are not discarding a long scenario here (a bounce on the trendline) we are just explaining what would be an optimal scenario for short trades.
oil, cl, day trading for Jan 13Oil is still in this tight range and looking for a break out, play safe until this break occurs.
Today will be looking at a 2 step red zone the inside red zone is only for inside scalp trades as I wait for the bigger red zone to break, and after the big one breaks will be when I form a directional leaning.
OIL SELL Looking to SELL OIL from current levels with formation of retracement / pullback.
See chart for more details.
cl, oil, day trading for Jan 9thToday oil is in a small range balancing after a large down move. Interesting spot. also all the support and resistance seems to be lining up with the round number option strikes.So will be trading inside the red zone until a solid break out and will go directional to the side of the Red zone break.
Looking for a bounce in Crude OilMonster sell off in crude #oil, but we are coming into support at 59.50-60.00: horizontal, rising channel support & backtest of falling trend from Oct '18. RSI on 1 hr oversold & RSI on Daily hit rising trend. Not a bad area to look for a bounce w/ tight stop ~59. $WTI $USO $CL
oil, cl, day trading for Jan 8thToday looks like a rip to the down side, just watch the levels and expect oil to look for a spot to balance
oil, cl, day trading for Jan 7thOil had a strong pop and now is moved back into a prior range and I feel will need to work this area to find the buyers and seller and who is more determined. watch Red zone for this answer and small trades as long as inside the red balancing zone.
CL, OIL,day trading for Jan 6thOil has had a very big up move and looks like it could be attempting to find a big balance range, this is why such a big Red zone today. This give lots of inside red zone trades and without any news could be the area we trade in for some time. Now a break of this Red zone could be providing lots on information towards oils next moves so will be watching with great interest.
oil, cl, day trading for Jan 3rdThere we got our big push that had to happen at some point now we have basically two red zones with good possible movement inside the bigger red zone for decent trades.
1) 64.10 - 32.73
2)63.67 - 63.21
there are some mathematical upper targets and then some prior down side targets, will watch so see if we are going back to yesterday prior range or pushing new short term highs, action reaction will be primary.
cl, oil, day trading for Jan 2st 2020The action in oil is small range inside and balanced with little directional bias. With a bigger down side directional action inside a bigger consolidation.
This means I remain in a back and forth mode until the first blue line targets are violated. And a small directional bias when the red zone is violated, but remain looking for a long bottom of Red and short top of Red until more direction is established.
cl, oil trading for Dec 31stFor the last trading day of 2019 not looking for a lot to happen, and as long as oil remains above 60.50. I remain bullish on oil however for daytrading we have a 60.50 and 61.50 range that could be just back and forth.
oil, cl, day trading for Dec 27thAfter one more step up oil balances again, watch red zone and if they break will work for nest upper or lower target. Bias is long but could be getting a bit extended in the short term.
oil, cl, trading for Dec 26thtoday I am not expecting a lot from oil, so be ready for me to be proven wrong, the red zone has smaller targets if it break. If no break will just trade oil back and forth.
USOIL ANALYSISPrice is about to bounce (or breack). that's why we must go to the lower TF and wait for more confirmation.
H4 TF : Show wedge pattern. The plan is to trade the pullback after a strong breckout
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Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together.
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Disclaimer : The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
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Thank you for your support!
cl, oil, day trading for Dec 20thOil is still working on this balance zone and I will trade the sloshing bath tub water until it breaks out.
There is not a lot else to say at this point
cl, oil, day trading for Dec 19thOil is again range bound with a smaller range and then a bigger one ( first blue lines- important) the range trading remains valid until the first blue boundaries are broke. and the red zone will pick the side i bias towards.
XLE with Clean Breakout from 10-month Channel$XLE Perfect 5-point channel from February with clean breakout. RSI breaking out. Could possibly see quick throwback to 60.40 (trend line retest & test of horizontal support), which would be a solid long entry from an RR standpoint $XOP #oil $CL $WTI
cl, oil, day trading for Dec 18thAfter hitting the first higher target yesterday and then pausing the up move, Oil is now testing range just above prior distribution. The important level to watch today is Red zone low, if we go below I would expect us to find balance in the 60 area. In the event we remain above the red zone low then a revisit of the highs and even to next target is most probable.
