Long USOIL, short XAUUSD
It's Thursday, and today is expected to be a highly volatile day in the markets. OIL has the EIA data release, while gold will be affected by the ADP employment report and initial jobless claims data, both of which will likely have a significant impact on price movements.
Based on the already released API data, the upcoming EIA data is highly likely to be bullish for OIL. Therefore, the primary trading strategy today should focus on buying on dips. As I previously pointed out, both candlestick patterns and other indicators show clear signs of a bottom formation in oil prices. So, barring any unexpected events, today should be a day of gains.
As for gold, with two important data releases today, I expect one to be bullish and the other bearish, primarily setting the stage for Friday’s NFP report. Therefore, today's trading range is expected to widen, with resistance around the 2506-2514 zone and support in the 2468-2452 region.
From an overall perspective, short positions at higher levels offer better risk/reward potential. Hence, today's strategy should be to short first, then look for long opportunities on a pullback, and once the market rebounds, resume short positions after the upward move.
Usoillong
USOIL:Long, TP 78-82
After achieving our long position target, we initiated short trades and have already secured a good profit. Orders are now being closed in batches.
From a trend perspective, there's a short-term need for a rebound, though it likely won't be strong. There's still some downside potential, mainly considering the need to fill the gap around 74.9. In the medium term, I believe the likelihood of an upward move is higher, with a target around 79- 82.
USOIL: BUY@73-70 TP 75-78
Oil prices have fallen sharply recently and have touched the support level near the previous low. There may be a range of fluctuations here, but the final breakthrough must be upward, so my trading direction is very clear, buying around the 73-70 area, with a target of 75-78.
USOIL OverviewUSOIL has HIGH VOLUME long candles, looking to reach the 78 - 80 range.
It has recently broken through multiple support zones with HIGH VOLUME, showing that USOIL is likely to increase further in the coming days.
I'm looking for it to enter back into the support zone, and we will see if it bounces or rejects and breaks lower.
It could, on the other hand, not bounce at all and increase straight to the 78 - 80 range, where I will be looking for shorting options at the RESISTANCE level.
USOIL Bullish 4H TF(4H Div, DOW BOS, Double Bottom Reversal)USOIL showing signs of bullish momentum supported by 4H Divergence with DOW break of previous LH BOS (Break of Structure). Price action is also supported by double bottom reversal pattern. Entry is taken slightly above previous LH. Stop Loss is placed at slightly below previous LL and TP @ 1:1 risk to reward.
What do you think, will it work?
USOIL 73.02 - 1.01 % WEEKLY MULTI TF ANALYSISHELLO TRADERS
Hope everyone is doing great
📌 A look at USOIL from HTF - MULTI TIME-FRAME ANALYSIS
USOIL DAILY TF
* Last week saw a bearish close with the weekly FVG holding & beautifully rejecting.
* The sentiment is still strongly bearish for OIL from HIGHER TF perspective.
* The weekly & daily TF show we are still trading in a range on a bearish trend towards that ERL.
USOIL DAILY TF
* The picture is clearer with strong bearish moves from the daily.
* some volume imbalance left behind.
* possibly to be filled before we take that ERL.
USOIL 4H
As we head lower we see some bullish potential for some retracement.
* With the week to opening Bearish (PO3) could see this move with tomorrows crude inventories .
* sentiment the same on the hourly tf.
* This rally with the bulls & strong momentum to the down side could see some reversal.
looking for some signs of this on todays price action.
* LETS SEE HOW THE MARKET DISHES
🤷♂️😉🐻🐮
HOPE YOU ENJOYED THIS OUT LOOK, SHARE YOUR PLAN BELOW,🚀 & LETS TAKE SOME WINS THIS WEEK.
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* Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT.
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| * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - I TAKE MY TRADES ON A INTRA DAY SESSIONS BASIS THIS IS NOT FINACIAL ADVICE TO EXCECUTE ❤
LOVELY TRADING WEEK TO YOU!
USOIL 77.00 +1.28% SHORT SENTIMENT MTF ANALYSISHELLO TRADERS
Hope everyone is doing great
📌 A look at USOIL from HTF - MULTI TIME-FRAME ANALYSIS
USOIL DAILY TF
* Wednesday saw strong bullish momentum coming into play, with Thur & Fri cont. this move.
* The weekly & daily TF show we are still trading in a range on the USOIL.
* USOIL took External range LQ, looking for that internal range LQ to be taken.
* We are trading in discount of the move,This is where I would be looking for long entries.
* With PO3 looking to open bullish this week to confirm a move Lower into +FVG on USOIL.
USOIL 4H TF
* Looking for the week to open Bullish into the 4h FVG because our HTF BIAS (PO3) .
* WEEK open I will probably be looking for short positions OPPORTUNITIES.
* We will see what does the market dish.
* On the 4 hourly ERL > IRL.
USOIL 1H TF
* We saw a rally with the bulls, strong momentum to the upside.
* The is a 1H FVG, this is where i would look for short entries this week.
* Should this PD ARRAY hold will be short for the USOIL
* BASED on the price action served this week.
HOPE YOU ENJOYED THIS OUT LOOK, SHARE YOUR PLAN BELOW,🚀 & LETS TAKE SOME WINS THIS WEEK.
SEE YOU ON THE CHARTS.
IF THIS IDEA ASSISTS IN ANY WAY OR IF YOU ENJOYED THIS ONE
SMASH THAT 🚀 & LEAVE A COMMENT.
ALWAYS APPRECIATED
____________________________________________________________________________________________________________________
* Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT.
_____________________________________________________________________________________________________________________
| * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - I TAKE MY TRADES ON A INTRA DAY SESSIONS BASIS THIS IS NOT FINACIAL ADVICE TO EXCECUTE ❤
LOVELY TRADING WEEK TO YOU!
Oil: Keep buying.
Wait until it reaches a high and then go short.
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USoil: Oil prices will continue to rebound this week.Oil is about to form an oversold rebound situation, and the target this week is expected to be above 74. The current price is around 72.2. The USoil quote on tradingview is used as the basis.
Investors with large amounts of funds can buy in advance.
If your trading continues to lose money. Or the profit is not ideal. Remember to refer to my trading instructions or follow me. Prevent further losses. NYMEX:CL1! MCX:CRUDEOIL1! NYMEX:MCL1! MATBAROFEX:WTI1!
Finally time for bullish oil? $USO to $120 then $300+People have been calling for the oil bull market to begin for the past two years and the trade largely hasn't worked as we've gone sideways to down. However, based on the chart, it looks like we're finally ready for a run.
This would also line up with my bearish equity thesis.
Oil looks to have broken out of an inverse head and shoulders pattern and althought it's a diagonal pattern which are less reliable, the indicators that I have seem to support the narrative.
I think there's a possibility that we could see a 4x move over the next year or so.
Let's see how it plays out.
Oil prices can still be shorted at around 77 to make a profit.
The overall trend of oil shows the closing stage of the arc top. There are still some opportunities for decline to short the oil price to make a profit.
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USOIL - Short from bearish order block !!Hello traders!
‼️ This is my perspective on USOIL.
Technical analysis: Here we are in a bearish market structure, so I look for a short . My point of interest is if price continue the retracement to fill the imbalance higher and then to reject from bearish order block + liquidity zone.
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Can Usoil Fall ?Last few week i was bullish on usoil now we are facing upper trendline resistance which is very strong trendline we have now and we also have selling area there what we can do is wait till monday and see what market will do if we see continous fall then we are seller on usoil and target will be around 81.50 and 78.50 and if we see break out above the resistance then we are bullish on usoil and target will be 92.00 to 95.00 .
USOIL - Long from bullish order block !!Hello traders!
‼️ This is my perspective on USOIL.
Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I look only for long position. I want price to go a little bit lower to fill the imbalance and then to reject from bullish order block + FIBO 0.618 level.
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USOILOil analysis
Time frame 4 hours and 12 hours
Middle oil oil broke and stabilized its 12-hour trading range. Now it has formed a new 4-hour trading range, the supply and demand areas of which are clear in the picture. The price is expected to return to the limit of $80.7 and move towards the target of $84 by filling the FVG.
USOIL - Accumulation phase !!Hello traders!
‼️ This is my perspective on USOIL.
Technical analysis: Here we are in a range, so we have opportunity both for long and for short. We can consider that range as a bullish flag and open a long position above 82.00, or price could confirm regular divergence in waves and open a short position below 80.20.
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Crude Oil Market Analysis and Trading SignalsTechnical analysis of crude oil
Daily resistance 83.4, support below 77.5
Four-hour resistance 82, support below 80.7-79
Crude oil operation suggestions: After a bottom rebound in the daily chart of crude oil, the upward momentum has slowed down. Short-term is accompanied by a second roundabout retracement confirmation. The daily chart uses the middle track as the support point. Go long after the retracement confirmation.
Today's lower support continues to focus on yesterday's hourly neckline support of 80.5. Relying on this position, the main bullish trend remains unchanged. The upper target is still near the daily pressure of 83.4. The short-term bullish strong dividing line focuses on the 80.7 mark. If the daily level stands firm at this position. Continue to follow the trend and do more. Short selling can participate near the daily resistance of 83.4. (At the same time, beware of trend changes, and there is also a warning of a sharp drop in the technical side)
SELL:80.7near SL:81.10
SELL:82.0near SL:82.40
SELL:83.4near SL:83.70
Technical analysis only provides trading direction!