SPOTBRENT trade ideas
A great opportunity to sell in Brent Oil. don't miss it.Midterm forecast:
Although current trend is uptrend but we forecast a downtrend wave would begin in Midterm.
Technical analysis:
There is a divergence in RSI and price between the peak at 70.35 on 2018-01-15 and the peak at 80.5 on 2018-05-22, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
Price is below WEMA21, if price rises more, this line can act as a dynamic resistance against more gains.
Relative strength index (RSI) is 47.
Trading suggestion:
There is a possibility of temporary retracement to suggested Sell Zone (77.65 to 80.40). if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (77.65)
Ending of entry zone (80.40)
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:
Take Profits:
TP1= @ 75.40
TP2= @ 73.25
TP3= @ 71.30
TP4= @ 68.85
TP5= @ 66.65
TP6= @ 62.35
TP7= @ 58.15
TP8= Free
Cursor had shifted due to erroneous plotting. Sorry about that.May go down to 72 in short term if it does not recoup and goes back above 82.25
Crude is in down trend Crude is in down trend and is out of 8/1 ascending Gann angle. May find support at 72.
Bullish Cypher / Brent Oil / 4 hrHi,
We have potential Cypher Pattern Brent Oil with confluence of Trigger line of PF.
Trade levels highlighted on chart.
Trade with Care,
Gulz
crude day chart crude rally has been good so far some consolidation here is expected the break of trend line and day macd moving below trigger, however this wont be a time to short ,personally i only track crude for study purpose and its importance to the economy ,
Brent Crude-Shorting OpportunityBrent Crude-Shorting Opportunity
Low risk high reward short trade coming in this.
Good to short near 68-69.5 with SL above 71
for target 62-58
Brent crude - running into a wall of Gann resistanceBrent can correct sharply here. Unsustainable spikes above the 66-67 levels will be great area to short. Longs better exit
Brent Crude - Breakout - Go long for big gainsI guess chart is self explanatory. Use any dips to go long. Am sure Light Sweet crude oil will also give a similar signal.
Crude is Back in Action.. few moments away from making big moveEverything mentioned on chart....
{ Any guess where it will move ??? Let me know in comment section :D }
Note: Do your own study before making any position... :D
Positive divergenceCrude is showing some strength on hourly charts, it gave RSI divergence indicates some recovery, one can go long for mentioned levels.
Short when u See Bear candle... :DEveryting is on charts.... :D
Note: Do your own study before making any ppsition...
