USOil - Watchout for the break - 200 pips+ OpportunityUSOil is currently in a consolidation zone. Keep and eye on it for when it breaks out.
I am still neutral to whether it can go up or down. However, I do know that once it breaks out it will have a big move.
Always trade after your own analysis as well as money manage properly.
Happy trading!
Usoilsignal
USOIL short based on trading system.I will begin posting both backtested, and live trades with updates using the set of rules I've developed for short/long entries across 5 min, 30 min, 1 day time frames.
This system merely runs with trends and exits for this purpose are based on a set of rules.
On equities this system is mostly successful in a long only strategy as short side moves tend to be too aggressive to generate a return large enough to justify the risk level taken.
I will be testing this primarily on SPX, USOIL, BTC, and a few equities.
I appreciate any and all input.
Crude Oil (WTI) Daily Chart : Consolidation in PlacePivot: 51.65
Preference: short positions below 51.65 with targets at 45.00 & 43.75 in extension.
Alternative scenario: above 51.65 look for further upside with 53.60 & 55.00 as targets.
Comment: as long as 51.65 is resistance, likely decline to 45.00.
Supports and resistances:
55.00 **
53.60 **
51.65 ***
47.14 Last
45.00 ***
43.75 **
42.10 **
USOIL Choose short entry 54, SL -55.00 It has been quite long that we did not do any OIL trade
since the last time break out(52.5).
But on 23th Feb I found a structure that has reach pressure zone.
And we tried to sell @54.7,and closed @53.5,got 120pips profit.
54.00 is the previous support and now become resistance.
Choose short entry here, SL above 55.00
Aim 51.5 !
I hold a point:Good charts does not more words to explain! Good luck!
The process of losing all margin in generalThe process of losing all margin in general:
1 the first few deals are profitable, usually at 1pips to 10pips
2 traders feel good, I think the correct rate is 100%
3 start a new transaction, in the case of 100% confidence, no longer set SL, and then began to float loss.
USOIL room to go downUSOIL has reached a major resistance at $52 and given that all indicators show that USOIL is currently overbought, I expect some downward movement to previous local maximum $50-49. The 200ema MACD though shows further possibility for upward movement, that's why I set my stance to neutral for the time being and stand by my previous analysis suggesting that oil will go higher in the first 2 quarters of 2017.
OIL SELL TRADEON THE DAILY WE HAVE A STRUCTURE WHERE PRICE HAS BOUNCED BACK FROM THE 43.00 FIB LEVEL.
ALSO THERE IS A SQUEEZE MOMENTUM PATTERN WHERE PRICE WILL MOST LIKELY FALL TO PROFIT TARGET 40, 8 AND PROFIT TARGET 33.63.
ENTER TRADE JUST BELOW THE 43 FIB LEVEL WITH A STOP JUST ABOVE 44 LEVEL.
PRICE SHOULD AFTER THAT TEST THE RESISTANCE TREND LINE AND FALL TO
PROFIT TARGET 1 40.80
PROFIT TARGET 2 38
PROFIT TARGET 3 33.63
AFTER THE BREAK OF EACH PROFIT TARGET DOUBLE UP ON POSITION.
USOIL CRUDE LONG, LONG TERMIn this chart I feel oil is bearish until 37.95, we have here on the daily what seems to be an inverse Head and Shoulders Pattern. if prices do reach 37.95 and stay above 37.95, we can see a rally towards 50-51$ and possibly even beyond that.
thus possibly breaking past the downward channel.
keep your eyes peeled for this one.
This does not represent a trade signal, or constitute any form of Investment advice. but rather my ideas on how i view the markets, I am not responsible for any losses or gains made from this. Please use your own discretion