WTI bullish but that could change on an oil spillWTI is on a firm bullish correction into bearish flows and upside targets are still eyed, although things could flip and the video explains.
USCRUDEOILCFD trade ideas
Crude recoversCrude oil has managed an impressive bounce over the last ten sessions. Earlier this month, front-month WTI broke below $65 per barrel to trade at its lowest level since May last year. Front-month Brent hit its lowest level since December 2021. The latest sell-off took both markets into very oversold territory. Since then, oil has rallied sharply, with WTI, as of Thursday’s high, up around 10% from its recent low. Has crude finally bottomed? It’s still too early to know. Prices have pulled back a touch this morning, but not significantly. Oil could continue to rally from current levels, but it will be its next pull-back which will help decide if the bottom is in. If it’s relatively modest and falls significantly short of last week’s $64.80 low, then that would certainly increase the probability that it is. If not, then there’s an increased likelihood of another lower low before it’s safe to sound the ‘all clear’. Overnight, China refrained from lowering its 1 and 5-year Loan Prime Rates. But on the other hand, the US Federal Reserve has made it clear that its prepared to cut rates further. As long as these aren’t a precursor to weakness in the US economy, then they may help to lift sentiment, and oil prices. Unless, of course, they trigger increased production.
OIL: Day 3 breakout traders long in the marketHi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
Monday DAY 1 Opening Range
Tuesday DAY 2 Initial Balance
Wednesday DAY 3 (reset DAY 1) Mid Point Week
Thursday DAY 2
Friday DAY 3 Closing Range ✅
2. SIGNAL DAY
First Red Day
First Green Day
3 Days Long Breakout ✅
3 Days Short Breakout
Inside Day
3. WEEKLY TEMPLATE
Pump&Dump ✅
Dump&Pump
Frontside ✅
Backside
4. THESIS:
Long: secondary, I won't exclude the possibility for this market to setup for a long trade, the market performed a higher high on the HOW and started dropping, currently consolidating.
Short: primary, Day 3 long breakout traders, HOW, is most of the time a reversal signal, but considering the overall level and behaviour of price, before NY session start I can see more a pump and dump. Price still on the frontside, so I won't be looking for a dump all the way down back to the LOW, unless news release at 10:30am NYT will be catalyst.
Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni
WTI With Bearish SignsThis is a short-term setup for WTI:
Price has been rejected at an order block while the H1 RSI is bearishly divergent.
Therefore, we open a short position to intercept the expected downward movement.
Sell OpportunityInstrument: USOIL
Position: Sell
Entry: 70.58
1st Target: 67.18
2nd Target: 65.23
Stop Loss: 71.94
Rationale:
USOIL is exhibiting signs of a bullish trend, supported by recent price action and fundamental factors.
WTI Oil H4 | Falling to overlap supportWTI oil (USOIL) is falling towards an overlap support and could potentially bounce off this level to climb higher.
Buy entry is at 70.11 which is an overlap support that aligns close to the 38.2% Fibonacci retracement level.
Stop loss is at 68.26 which is a level that lies underneath an overlap support and the 50.0% Fibonacci retracement level.
Take profit is at 73.00 which is a pullback resistance that aligns with the 61.8% Fibonacci retracement level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
USOIL LONG OPPORTUNITYUSOIL LONG OPPORTUNITY
The inside bar of USOIL breakthrough upwards
Therefore, buy USOIL when the price pull back
around 70.19
SL: Below 68.45
TP: 73.4
m15 to testing 200ma H4 Biggest TF first testing.m15 to testing 200ma H4 Biggest TF first testing normally
1.5 Ratio that fit to 4H 200 ma that rejected cut loss price.
Bearish drop off pullback resistance?USO/USD is reacting off the resistance level which is a pullback resistance and could drop from this level to our take profit.
Entry: 72.19
Why we like it:
There is a pullback resistance level.
Stop loss: 74.66
Why we like it:
There is an overlap resistance level that is slightly below the 78.6% Fibonacci retracement.
Take profit: 69.80
Why we like it:
There is a pullback support level that lines up with the 38.2% Fibonacci retracement.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
USOIL POSSIBLE SELLThe market is currently testing the current weekly Fib area 0.618. Based on Daily TF, the market seems to be forming a possible reversal chart pattern.
We could see Sellers coming in strong should the current level hold.
Disclaimer:
Please be advised that the information presented on TradingView is solely intended for educational and informational purposes only.The analysis provided is based on my own view of the market. Please be reminded that you are solely responsible for the trading decisions on your account.
High-Risk Warning
Trading in foreign exchange on margin entails high risk and is not suitable for all investors. Past performance does not guarantee future results. In this case, the high degree of leverage can act both against you and in your favor.
Oil Post 50 Bp CutLooks like markets reacted positively to this 50 Bp cut... it was expected!
But, let's agree on something.. facts... the fact that the Fed has taken the initiative to cut 50Bps means that they consider themselves late and behind schedule ! Not good news at all.
Markets have played out the "50Bps" without highlighting the "behind schedule" fact... I would say it's either a trap or the sad reality.
I expect oil which have risen till 71.5 as per the chart... to reverse and dive again towards lower prices with "69.6" in focus knowing that its a very important level for oil.
We have reached the top imo, I ll be eyeing for new lower targets starting Friday/next week.
In case oil doesn't respect my trading plan.. and breaks through 71.5 and 71.8, we can expect bulls to enter heavily and take us to 73.8,74.6 and 75.2 in no time.
Recessions lead to lower oil prices.
Trade safe and green.
USOIL - Potential short !!Hello traders!
‼️ This is my perspective on USOIL.
Technical analysis: Here we are in a bearish market structure from daily timeframe perspective, so I look for a short. My point of interest is a rejection from trendline + LZ. As well price forms hidden divergence, so I will look for a regular divergence on LTF.
Like, comment and subscribe to be in touch with my content!
CRUDE OIL RESISTANCE AHEAD|SHORT|
✅CRUDE OIL will be retesting a resistance level of 72.72$ soon
From where I am expecting a bearish reaction
With the price going down but we need
To wait for a reversal pattern to form
Before entering the trade, so that we
Get a higher success probability of the trade
SHORT🔥
✅Like and subscribe to never miss a new idea!✅
Continued growth of WTI. H4 17.09.2024Continued growth of WTI
Oil rebounded from important support in the region of 65
and started to grow, I believe medium-term.
I do not exclude intermediate corrections, but in general
we aim at the area of 73 and there I will be specified.
On the way of growth we have resistance in the area of 71.50
and from there we can bounce down locally. But I believe that
then we will continue the growth to the specified targets.
Set up is working properly. I'm glad to see it is respectedAs you can see the marked level at $70.800 as its major resistance and 70.200 as a support. Still I hold my buy and sell until it breaks the level however on small TF one can plan Scalping as it is respecting the setup in a defined manner.
USOIL Buy limitIn my opinion USOIL will go long, but I prefer to buy it from 65,86 : 66,26
Stop Lose close below 65,24 with 4H Candle
Take profit 1 will be 69,69
Take profit 2 will be 72.42
USOIL BullishUSOIL has formed the bullish rectangle continuation pattern signalling further upside. There is no divergence therefore chances of trend reversal are low.
Crude OilPair : Crude Oil - USOIL
Description :
Completed " 12345 " Impulsive Waves
Break of Structure
RSI - Divergence
Bearish Channel as an Corrective Pattern in Short Time Frame
Support Level
Sell OpportunityInstrument: USOIL
Position: Sell
Entry: 70.40
1st Target: 67.18
2nd Target: 65.23
Stop Loss: 72.10
Rationale:
USOIL is exhibiting signs of a bullish trend, supported by recent price action and fundamental factors.
Long trade
Buyside trade
Pair WTICOUSDT
Tokyo to LND Session PM
Mon 16th Sept 24
2.00 pm (NY time)
Entry 70.289
Profit level 74.563 (6.08%)
Stop level 67.951 (0.95%)
RR 6.43
Will the rising tension in the Middle East boost Oil prices?Macro theme:
- WTI hovered around 72.50 dollars per barrel on Thu, attempting to recover from previous losses as markets considered potential supply risks due to rising tensions in the Middle East.
- The Fed also implemented a larger-than-expected 0.5% cut, which could stimulate economic activity and boost oil demand.
- However, worries over China’s slowing economy and an expected supply increase from OPEC+ continue to pressure prices in the medium term.
Technical theme:
- From the 4-hour chart, USOIL is recovering and trading within its ascending channel. The price was retraced to retest both EMAs and bounced up to close above the key resistance at around 70.20.
- If the price can maintain above 70.20, it may continue to rise to 71.50. In the medium term, 73.00-73.80 is the potential area for USOIL to reach upon breaking 71.50, as it is the technical confluence area.
- Meanwhile, the price may retest the broken level 70.20 before resuming its upward short-term movement.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
