WTI1! trade ideas
crude next week, 06.03.2023Publishing herewith my idea about crude using weekly candle, 2 light shades of blue showing normal weekly range, dark blue showing 3 month price lines, price is inside a triangle formation
lines will act as support and resistance depending on the opening of weekly price
if price breaches the range will provide extreme range later
also try to give daily range after opening of price
ITS time for oil that is crude oil For a short periods of time
crude oil is getting ready to go up
There was a fall in crude from jun/07/22
And after a fall it was in consolidation
from nov/23/22 till feb/03/23
Now oil gives a Breakout
for a short period of time for
Retrech the important level
keep an eye on crude
for short periods
just a view
Crudeoil reversal zones 3-3-2023Note: Always try to find a good price action patterns or any candle stick patterns in marked zones in smaller timeframe to take entry with small stop loss. Or can take entry based on one 5 min candle close below or above the zone with SL previous candles high or low (*try to avoid big candles).
(Color code for Support & Resistance zones: Red - Sell, Green - Buy, Price once cross above resistance it is obvious it will work as support, vis versa price cross below support zone ). Please understand that market can break all the support and resistance anytime. If any doubt for take entry in price action patterns, please ask in comment box, i will try to help.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels, It is shared here for learning purpose. Trading in this pattern is all your own risk. #crudeoil
Crude Oil (MCX): Monday - 27/02/23Levels:
Support: 6320, 6290, 6220, 6150, 6072, 6000
Resistance: 6400, 6430, 6500, 6620
OI Data (16th Mar Expiry):
Nearest Major Resistance per OI data: 6500
Nearest Major Support per IO data: 6200
Trade setup:
+++++++++++++++++++++++++++++++++++++++++
Trade | Level | SL | T1 | T2
-----------------------------------------
BUY | > 6375 | 6320 | 6430 | 6500
-----------------------------------------
SELL | < 6280 | 6230 | 6320 |6280
+++++++++++++++++++++++++++++++++++++++++
Crudeoil reversal zonesNote: Always try to find a good price action patterns or any candle stick patterns in marked zones in smaller timeframe to take entry with small stop loss. Or can take entry based on one 5 min candle close below or above the zone with SL previous candles high or low (*try to avoid big candles).
(Color code for Support & Resistance zones: Red - Sell, Green - Buy, Price once cross above resistance it is obvious it will work as support, vis versa price cross below support zone ). Please understand that market can break all the support and resistance anytime. If any doubt for take entry in price action patterns, please ask in comment box, i will try to help.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels, It is shared here for learning purpose. Trading in this pattern is all your own risk. #crudeoil