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USCRUDEOILCFD trade ideas

Bearish Storm Incoming: Will USOIL Collapse to $67?Key Observations Current Strong High & Invalidation Point (70.34): Marked as Wave 0 and serves as the critical level for invalidating any bearish outlook. If this level is breached, it may signal the continuation of the bullish trend. Primary Distribution Structure: The chart is showcasing Wyckoff Distribution with the following features: Preliminary Supply (PSY): Initial reaction around 69.19 indicates buyers were overwhelmed. Buying Climax (BC): A peak at the liquidity level (approx. 70.34), marking the point of institutional distribution. Automatic Reaction (AR): Subsequent pullback leading to the initial range. Liquidity Traps: Inducement: Highlighted above the fake breakout line around 69.35, trapping retail traders who anticipated a breakout higher. Liquidity Pool: Formation of equal lows near 68.00 suggests stops are building, acting as a magnet for price. Supply Zones and Key Areas: Bearish Order Block (OB): Around 69.35, which aligns with the Point of Control (POC) on the Volume Profile. This zone may act as a resistance for price action. Support Line - AR Distribution: Near 68.88, which aligns with the low-volume node on the profile, indicating minimal institutional activity in this zone. Projected Elliott Wave Count: Current count suggests we are heading into Wave 5 of the bearish cycle. Wave 3: Shows impulsive price action, which broke through liquidity. Wave 4: Retracement has hit resistance within the supply zone. Wave 5 Targets: Potential targets are around 67.42-66.91, which aligns with historical liquidity levels. Creek Formation: The Creek Line indicates minimal resistance in the current path, where a low-resistance liquidity run (LRLR) may accelerate momentum to the downside. Volume Profile Insight: The Point of Control (POC) resides at 69.22, suggesting that most transactions have occurred here. This level aligns with the AR zone, which could act as a decisive battleground. Potential Scenarios Bearish Scenario (Primary): Price fails to sustain above the Bearish OB (69.35) and breaks below the AR line at 68.88. Wave 5 completes at the liquidity pool levels between 67.42-66.91. Bullish Scenario (Alternate): A sharp breakout above the invalid point (70.34) confirms the strength of the buyers and invalidates Wave 5 projections. This would signal a transition from distribution to an accumulation phase.
TVC:USOILShort
by spaceangel
7
USOIL Will Collapse! SELL! My dear subscribers, USOIL looks like it will make a good move, and here are the details: The market is trading on 71.12 pivot level. Bias - Bearish My Stop Loss - 71.78 Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 69.89 About Used Indicators: The average true range (ATR) plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility. ——————————— WISH YOU ALL LUCK
TVC:USOILShort
by AnabelSignals
2
WTI 69.40 BULLS / APPROACHING 72.50 free daily planAs discussed in yesterday’s plan over @ Voila's Oil Trading (substack) why 69.40 key level will be delivering a strong push towards our 1st top of range target - 72.50. WTI 4 hour: WTI is pushing off 69.40 our intraday support . This buying will need to sustain above the 69.77 daily pivot as we look for a definitive break of 70.35 today… towards the 72.50 major resistance. We should only be minimizing long risk if price action is indicative of a 69.40 level break here. It’s not right now as the 4hr shows a 20 ema (red) trend holding. ------------------------------------------------------------------------------------------------------------ Trade Plan! Continued buying above 69.40, long to the next levels: - 70.35 , 71.70 , 72.50 Strong selling below 69.40, short to the next levels: - 68.00 Daily pivot is 69.77
TVC:USOILLong
by trad070