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Usoilshort

USOIL MARKET BREAKDOWNUSOIL MARKET BREAKDOWN Last week was the stuff of dreams with USOIL pulling through for insane pips, GOLD pulling through for insane pips and GBPUSD giving us a modest bag! As stated last week were are simply following the USOIL down trend and it's working out nicely so far. USOIL dropped down to our bottom zone before pulling back, we did try to long this but after confirmation we couldn't get that little bit more of a dip which we needed. I have marked out the important zones for this week and it's important to note that $94.50 has been tested so many times on this timeframe and multiple others so I don't see another retest within this next leg down. Look at the very left of the chart on the white line. We can see this area actually acted as a decent support region but since we broke from it price hasn't really reacted much with this level so I would expect this to be the next zone we see resistance. As always USOIL can drop from the current zone and it rejected hard from $91.80 which makes me slightly sceptical of a push higher but my behind the curtains strategy is point towards $92.70-$93.30 as the true rejection region (I ALWAYS STICK TO WHAT MY STRATERGY TELLS ME). I'm sitting, watching and waiting for my time to strike.
TVC:USOIL
by UnknownUnicorn33264805
6
Joe Gun2Head Trade - Expecting lower prices on OilTrade Idea: Selling Oil Reasoning: Looks set for lower prices Entry Level: 92.38 Take Profit Level: 88.74 Stop Loss: 93.31 Risk/Reward: 3.97:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
OShort
by Signal_Centre
USOIL MARKET BREAKDOWNUSOIL MARKET BREAKDOWN USOIL had it's bullish pullback last week which took full advantage of and we now have a nice little trade running. Someone left a comment on my last post asking if it was possible to drop straight down instead of pulling back, this was a great and valid question. This person was correcting in mentioning that and my simple answer is plan for both scenarios and stick to the most profitable option. If the trade isn't profitable, low risk and doesn't meet every demand of your strategy and analysis then DO NOT TRADE IT. The zones marked on the chart are the only zones I'll be interested in trading. USOIL is bearish so we now favour the short for overall trades and only look to longs for a quick scalp. We mentioned a while ago that USOIL was climbing too hard and too fast which was a major driver of inflation. We said the price of USOIL would have to come down to let the markets breathe before the next leg up. Unless Russia kick off big time then USOIL should be making it's way to $76 which is where I would look to load up on swing longs. Now lets focus on this week: Are broken and major support region has now been retested and closed below which is a good sign for our trade. I will not rule out one more retest or at a minimum a spike to $93.60 before we see the drop off. I look to carry this short all the way down to the bottom blue zone this week with around 900 pips profit as our target. Anything above $94.50 I will class as manipulation and I wouldn't short again until we were below UNLESS a good set up gave reason to short before. Members have been guided through this and are now sat in 280 pips profit!
TVC:USOILShort
by UnknownUnicorn33264805
6
USOIL, Bullish or Bearish?Hello Traders, USOIL has been moving within a strong reversal structure since the end of June making multiple swing highs & lows indicating that we could see price breakout creating upside momentum soon or we could see a continue downward if price is unable to stay above the 90.40 level. If price impulsively breaks out of this reversal stucture, I would be requiring to see a bullish continuation correction consisting of 5-6 candle sticks to validate a buy opportunity with my target range just below 105.00 level. If we are u able to see a breakout and price pushes downward, I would be looking for a LTF reversal at the mid 85.00 range for another buy opportunity. Thanks Trade Safe
TVC:USOILLong
by ktlfx
WTI Bearish breakout happening now!Hey guys! We havent been to active but here we go again! We are taking shorts (swing trades) on WTI based on the current breakout + retest of the support turned resistance. Our Stops are around the 94.2 level while our Take profits are between 80 and 85, we will seek to compound the shorts as the market moves. We rarely take swing positions but couldn't resist this one. Ofcourse we are just as ready to buy as we are to sell (one of our key trading rules), so if this fails, we will go long IF THE MARKET indicates a buy opportunity! Are you trading WTI?
OANDA:WTICOUSDShort
by PrimedGroup