Hi guys dont miss this trade we can expecting fall upto $42 and than $38 -Trade with care and safe
Buy @ CMP 50.61 Signals are generated using a proprietary indicator developed by me using Tradingview Pine Script (). This system works on Daily bars and so entries or exits are at the next market open after getting signal. Key performance metrics generated from TV Backtester are published below (1984 to 2017). Actual Signal came some days ago but the price is...
There is a head & shoulder pattern with head at 53.77 -neckline at 52.70$- Going below 52.70 - Can CrudeOil put a top to the upside rally with 53.77$ intact which started from 47$ in the update - Stretching in a final wave Any upside move we shall look only above 53.40$ which is the right shoulder high. Previous Update Stretching in a final wave upside ...
Crude oil is again at the Resistance and if not able to pass this level 52.20-52.30 range on the closing basis it will fall again to the level 49.60/48.30 soon.
Wow!- what a knock as Oil bounces from 47$ to 50.85$ on global exchange & on local exchange -MCX (Multi Commodity Exchange) from 3075 to 3288. Previous Update - Stretching in a final wave before collapse As per short term update in previous post- Taking stops below 47$ & looking for a bounce was the strategy which has paid well so far. Next resistance comes...
In Dec1998 when crudeoil was trading at 7$ -no one even thought that it will travel to 147$ from 50$ base. The explosive rally from 50$ to 147$ was in wave-5 & It behaved exactly as bookish structure. In commodities wave -5 is 80-90% time bigger than wave-1 & wave-3- which was the excellent case for the oil between Jan2007 & July 2008 5th wave scenario. Always...
Although i am having a shorter side bias in crude oil BUT ..... A word of caution - Trade with a strict stop loss, at least till it confirms the move by breaking the uptrending line on daily closing basis.
* Trendline * Bullish crossover on Stochastic * RSI back from oversold territory
Let It Break decisively. Till then you can take advantages of intra-day short ranges. But do that with strict risk management. Finally the pattern at present looks Bullish, BUT it can go either way. Because on the flip side of it - COT reports are Bearish, open interest is at record high and Commercials are record short(more than they were at 2014 drop from...
US Crude commencing Wave 5 after corrective Wave 4. Heading toward 55/56 levels before reversing.
Still Playing between the two Levels & DIRECTIONLESS Until it breaks either level convincingly, look for small and short term trades on lower time frames. I will personally have a short side bias.
I am planning to short Crude oil if it breaks down in the evening US session, using lower timeframes for entry. Nice Risk Reward
Final Leg down will take price down towards $52 below.