SPOTCRUDE trade ideas
Strong recovery possibleSome recovery seen post the crude oil inventory. The supports seen over the last two days seems to be fueling some upside. Repeated attempt to breach supports have proved futile. Now the pus to the upside is indicating possibilities of some rise in store.
WTI CRUDE Short @ 61.1- 61.2 CMP 60.73 TARGET 60.45 - 60- 59.WTI CRUDE Short @ 61.1- 61.2 CMP 60.73
TARGET 60.45 - 60- 59.4 - 58.5+
Crude Buy and Sell PointsCrude look for a sell in the zone of 61.8 to 62.8...A strong closure below 59.4 is indicative of lower prices targeting 57.4 and 55/54.
A buy looks on an intraday basis with a stop loss of 59.4 and target of 61.8/62.8
CRUDEOIL --THE ELLIOTWAVE PERSPECTIVE IN QUESTIONBIGGER PICTURE OF CRUDE OIL ---- AS PER ELLIOT WAVE
Crude oil has been in corrective mode since July 2008.
I had 4 hurdles for crude oil to breach itself to go towards its life time peak...By the time I m posting this...its already through with the 3rd hurdle...
CASE 1:
If crude oil unfolds into motive wave sequence(1-2-3-4-5) and also breaches key level for bulls and bears...It may result in positive structure for crude oil...Bulls will be more confident then on...But this scenario is not good for economies importing crude oil...
CASE 2:
If crude oil fails to breach the key level for bulls and bears... bears may start smelling honey in crude 😀😁😉
As of now bull party🚀 is on...
Crude oil Hourly wait box breakout.Giving mixed signal, wait for the market to move in any one direction.
CrudeOil Losing momentum in hourly, expecting a small correctionCheck the chart for information and major Time frame's Supply and demand ranges..
Crude oil hourly, Supply and demand levelsCurrently in strong buy, close above 64.84 will make new high.
close below 63.38 ~ 63.80 will be sign of trend reversal.
trade with confirmation in lower time frames 15 and 5 mins.
Line tool Customized for Multi Timeframe view.Professional Price action trader's analysis will be from higher time frame to lower time frame.
Higher time frames like Monthly, Weekly, daily, 4Hour are acts as Major Supply & Demand levels for any script.
Lower time frames 1Hour, 15min, 5min are used to enter the market.
In the chart of USOIL, I have mentioned the major Supply & Demand ranges in line and its text options.
MSR - Monthly Supply Range
WSR - Weekly Supply Range
DSR - Daily Supply Range
DDR - Daily Demand Range
4HDR - 4Hour Demand Range
For Positional traders, it will be help full to see all major time frame Supply & Demand ranges in 1Hour chart to proper entry with good Risk to Reward ratios.
Also no need to switch between Higher time frames every time.
Hope everyone will utilize this content & take your trading journey to the next level.
Take care & Trade wisely.
Crude oil Hourly, currently in downtrend.Daily time frame forms new low after yesterday close.
If it closes below next demand zone in daily and weekly time frame, we can expect a good correction for the previous bull market.
If new high forms in hourly (reversal in hourly = buy sign) trade accordingly..
Crude Oil Hourly inside BoxTrade in the direction of higher time frame.
All Higher Time frames giving Buy sign, except in 4Hour.
While market at the bottom of the 4H channel, If Hourly makes new high then it is high probability to move higher.
