Hi all, Will like to start a thread to share my analysis on crude oil .
Stay tune
Stay tune
We don't trade against the market ,we trade against discipline.
This week we have seen that crude oil has creep up all the way from the previous negative price to the current $29. Will this move sustain? Or there are bound to be a retracement?
Lets take a look at the following chart and see what could possibly be happening for next week.
Looking at H4 Chart on WTI. Prices of crude oil doesn't show any weakness and could potentially going up higher. However, in D1, there post a huge resistance for this make or break.
Lets take a look at the following chart and see what could possibly be happening for next week.
Looking at H4 Chart on WTI. Prices of crude oil doesn't show any weakness and could potentially going up higher. However, in D1, there post a huge resistance for this make or break.
- Price is now at Rec 1 . Which is a potential break or no break zone.
- Any price that retrace back below, it will good to short with high profit to loss ratio.
- Path 1 and Path 2 could be potential play out in the current situation.
- IMO , it could be on track for path 2 once breakdown and target at 18.75 before any meaningful rebounce
We don't trade against the market ,we trade against discipline.
Hi , Can you please tell me the price area of the resistance on the D1 chart ? I cannot see any key resistance areas. Do you mean the current price? maybe it will bounce down?
The setup are still valid, and can short at a higher price instead with target.
Sorry, my broker has recently changed liquidity provider and price might look different from what is you see but consistent pricing with my original chart.
This chart is as of current
We don't trade against the market ,we trade against discipline.
- Joined Sep 2017 | Status: Still a total mystery | 3,575 Posts
This week we have seen that crude oil has creep up all the way from the previous negative price to the current $29. Will this move sustain? Or there are bound to be a retracement? Lets take a look at the following chart and see what could possibly be happening for next week. Looking at H4 Chart on WTI. Prices of crude oil doesn't show any weakness and could potentially going up higher. However, in D1, there post a huge resistance for this make or break. Price is now at Rec 1 . Which is a potential break or no break zone. Any price that retrace back...
Have you adjusted the paths to this or do you still stand behind them?
Can you afford to take that chance?
CHEETAH LIVE TE Return This Year:
na
- Joined Sep 2017 | Status: Still a total mystery | 3,575 Posts
For early bird, it might be good to short after the oil inventory with tight SL. The analysis doesn't change with the fact that $30 is the key resistance and D1 barely break in terms of trend.
Can you afford to take that chance?
CHEETAH LIVE TE Return This Year:
na