OIL trade ideas
Oil india long positionOil india is trying to break upper side and the nearest resistance level is at 159.
OIL- Weekly Chart Long PositionOil india broke a weekly trend and after consolidation it can go uptill 148-155
Buy Oil @ 128-130
SL- @ 118
Take Profit @ 148-155
breakout expecting a bo,
can go to 140 ++ if sustains
can put an sl blw months low
for study purposes
positional
Oil - Small things to watchout for.Support turning resistance is the first point of this chart.
Tried connecting a small Trendline which actually look like a small triangle on chart.
Some thing that is interesting is that price already tried to go down below 200 EMA but buyers pushed it back up.
Now volumes are increasing slowly.
I have marked 2 targets:-
Green one is smaller target and will require less time as per my view.
Blue one is bigger target that requires patience to hold for some time.
One thing i request everyone that please please do not take premature entries in fear of missing out. These red lines are plotted some reason they are not for looking fancy. So enter only and only once prices closes or looks like closing above the red lines.
Cheers & Happy Trading.
Disclaimer:- I am not SEBI registered. Trade with your own risk and trade with caution.All the levels plotted are only for educational purposes.
#oil India #positional Oil India is a good bet for short term. Good results in February and dividend declaring in next month can make positive(expecting).current dividend yield 9+%. Will reach precovid levels. 140+
OILOIL Weekly RSI close above 55 + daily RSI > Weekly RSI + Daily ADX > 25, Momentum may be continuous from here. exit - Close below EMA_34 or Daily RSI close below 45 or Daily ADX close below 25.
Cgg
//@version=2
//supertrend strategy multitimeframe analysis...
strategy("EBT TOOL", overlay=true, default_qty_value=100)
res = input(title="Main SuperTrend Time Frame", type=resolution, defval="720")
Factor=input(2, minval=1,maxval = 100)
Pd=input(10, minval=1,maxval = 100)
tp = input(500,title="Take Profit")
sl = input(400,title="Stop Loss")
Up=hl2-(Factor*atr(Pd))
Dn=hl2+(Factor*atr(Pd))
MUp=security(tickerid,res,hl2-(Factor*atr(Pd)))
MDn=security(tickerid,res,hl2+(Factor*atr(Pd)))
Mclose=security(tickerid,res,close)
TrendUp=close >TrendUp ? max(Up,TrendUp ) : Up
TrendDown=close MTrendUp ? max(MUp,MTrendUp ) : MUp
MTrendDown=Mclose TrendDown ? 1: close< TrendUp ? -1: nz(Trend ,1)
Tsl = Trend==1? TrendUp: TrendDown
MTrend = Mclose > MTrendDown ? 1: Mclose< MTrendUp ? -1: nz(MTrend ,1)
MTsl = MTrend==1? MTrendUp: MTrendDown
linecolor = Trend == 1 ? green: red
plot(Tsl, color = linecolor , style = line , linewidth = 4,title = "SuperTrend")
Mlinecolor = MTrend == 1 ? black : red
plot(MTsl, color = Mlinecolor , style = line , linewidth = 4,title = "Main SuperTrend")
plotshape(cross(close,Tsl) and close>Tsl , "Up Arrow", shape.triangleup,location.belowbar,black,0,0)
plotshape(cross(Tsl,close) and close<Tsl , "Down Arrow", shape.triangledown , location.abovebar, black,0,0)
up = Trend == 1 and Trend == -1 and MTrend == 1
down = Trend == -1 and Trend == 1 and MTrend == -1
golong = Trend == 1 and Trend == -1 and MTrend == 1
goshort = Trend == -1 and Trend == 1 and MTrend == -1
