USOIL ASIA TRADE SETUPTechnical Analysis- The 4 hour is down against 1/08/2020 peak (63.87). 1 hour is turning down. However, while near-term dips remain above 6.59 low expect OIL to extend higher to correct the cycle from 1/08/2020 peak in 3, 7 or 11 swings before downside resume. We prefer selling the bounces in 3, 7 or 11 swings at the extreme areas.
Sell USOIL
@26.10-40
TP: 25.00
Tp2: 23.00
SL: 27.00
Good luck !
Wticrude
USOIL (CRUDE OIL) Weekly Forecast he weekly is turning up. The daily right side is down against the 76.96 highs from 10/3/18. The 4 hour right side is down against 65.78. While below the 4/3/20 highs where the hourly is turning down it can see weakness toward the 16.00 area before correcting the cycle from the 4/23/19 highs.
Short in Crude below $21.90 for $20.25 to $19.70If price trades below $21.90, selling is advisable. Heavy sellers dominated from $26 to $20.77.
Then buyers were able to retrace only till $23.60 - the recent high.
Price is taking a dynamic resistance of 20 EMA - which is kind of strong trend indication.
First Opposing Force for this fall can be expected around $20.25 to $19.70; further price can test $18.60 as well.
Kindly do your analysis before taking any trades.
MCX Crude 5 March 2020As discussed live on social media platforms MCX Crude made a low of 3462 yesterday, went up to our resistance of 3577.
3500 CE went 50% from our levels.
Support for the day
3389
Resistance for the day
3507
Expectation
Reversal from lower levels
My trade
I have issued a trade for 3500 CE on social media
MCX Crude 4 Mar 2020As discussed live on social media platforms we shorted 3577 high and went long at 3440 low. Traders made big ticket money yesterday.
Resistance for the day
3520
Support for the day
3452
Expectation
I am expecting $ 50 threshold to break in US session today which comes around 3664 MCX level
My trade
We're long 3500 CE @ 109
Real time updates
I post all trades live on social media platforms
Note : Kindly don't message me about address to my social media platforms in comments section. My twitter handle is clearly mentioned in my profile page
MCX Crude 27 Feb 2020As discussed MCX Crude found resistance at 3615 and fell sharply. Futures traders made good money of 60-70 points in no time.
Support for the day
3415
Resistance for the day
3502
Expectation
Range bound with reversal in US session
My trade
Buy near support , sell near resistance
Real time update
I'll update on social media channels whenever I get time
Crude WTI and MCX 25 Feb 2020As discussed live Crude hit a low around $ 50.45 in US session. We went short with 3700 pe at 48 and booked profit at 132. Put went on to hit a high of 160+.
Support for the day
3680
Resistance for the day
3761
Expectation
Pull back underway , 3761 might get tested
My trade
I'll try to buy 3800 CE at support
Real time update
I'll update whenever I get time on social media channels
Don't miss the great buy opportunity in USOILTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (56.22). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USOIL is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 57.
Take Profits:
TP1= @ 58.00
TP2= @ 60.95
TP3= @ 66.57
SL= Break below S2
A second Chance to Sell in USOIL...Midterm forecast:
58.05 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 58.05 is broken.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 50.70 on 06/05/2019, so more gains to resistance(s) 55.20 and maximum to Major Resistance (58.05) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 34.
trading suggestion:
*There is still a possibility of temporary retracement to suggested resistance line (58.05). if so, traders can set orders based on Price Action and expect to reach short-term targets.
*If you missed our first HUNT, you have a second chance to bell below the suggested resistance line (58.05).
Entry signal:
Signal to enter the market occurs when the price comes to " Sell zone " then forms one of the reversal patterns, whether " Shooting Star " or " Peak ", in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about " Entry signal " and special version of our " Price Action " strategy FOLLOW our lessons:
in.tradingview.com
Trade Setup:
We opened 9 SELL trade(s) @ 65.11 (day close price) based on 'Peak' at 2019.04.25.
Total Profit: 8142 point
Closed trade(s): 3750 point Profit
Open trade(s): 4392 point Profit
Closed Profit:
TP1 @ 61.85 touched at 2019.05.02 with 326 point Profit.
TP2 @ 60.15 touched at 2019.05.06 with 496 point Profit.
TP3 @ 58.05 touched at 2019.05.23 with 706 point Profit.
TP4 @ 55.20 touched at 2019.05.31 with 991 point Profit.
TP5 @ 52.80 touched at 2019.06.03 with 1231 point Profit.
326 + 496 + 706 + 991 + 1231 = 3750 point
Open Profit:
Profit for one trade is 65.11(open price) - 54.13(current price) = 1098 point
4 trade(s) still open, therefore total profit for open trade(s) is 1098 x 4 = 4392 point
All SLs moved to Break-even point.
Take Profit:
TP6= @ 49.50
TP7= @ 45.80
TP8= @ 42.60
TP9= Free