Trading Crude Oil with price action + indicator

whats the view on crude oil ?

YES!!! OIL BABY more down... I have been telling when Oil was at 103-104 zone..

At 99.40 in other words now is a good place for a buy in my opinion considering the sharp decline and this is a support zone with 38.20 fibo level at 99.38
but whether it will be a new wave with 4-5$ up move or just a small correction to 100.00-40 is a different story

I think that i am supporting the idea of getting more down within this week.

I'd say somewhere around $120/$130..

finally went down...

My long position yesterday didn't went far up but i left if with SL 1 pip over the opening price so it was a nice try but market had different in mind anyway according to my charts 96.30$ is next major support area

this theory of TP=2x SL it's a little nonsense in my view... I don't know
but did hit my TP

using fibo expansion could be on $95,40
let's see the next episodes

i need feedback regarding crude oil. it has gone way down. Is it good time to buy?

are we need to wait till it reach the 95.40 support to buy ?

I think its going up again..

I wouldn't look at going long, until $95.50 or so... even then, i'd have stops right at $95 or so...... this thing is a bit of a freight train at the moment..

Sean

Hi, if you are refering to my analysis, please do not follow me my friend, I'm just learning...
it was just an observation...

if you think it could be a good time to buy you could divide your order to not risk everything... it's called median price, I don't know if you are familiar with the idea... if you want open a 1 lot position, you could open one 0.5 lot order at $98 and wait to open another one (also 0.5 lot) at $96... you entry price will be around the middle ($97)... but be aware that it's dangerous because if the market continue going down you could get a considerably damage... you have to set your stop before you do that... for example, if you want a 100 pip SL you cannot do that at these prices because when you open your second order you already be on 100 pips damage of the median price... in this case you have to open the second order on smaller interval or set a bigger SL

I do not like this theory but could be used when you have a good analysis of what will happen next, because we never hit the "exactly perfect" price... and if we divide the order we could get a better entry price... however, do this at random is suicide... believe me...

I agree... h1, h4 and even d1 just cross down the 200MA
I would look for long until it drops a bit more... just looking for short setups right now

btw, according to the price action book I'm studying here could also be a short setup:
let's see what is going to happen this time...

Hi people,

My view for the next month or two is bearish on oil. But I think we are about to end a 3-year long 4th wave within this year. The correction looks like a triangle, that is about to end, but I think serious buyers will wait for lower levels, and what looks like a triangle will transform into a normal ABC. I would like to know what you think will happen within some weeks and why? I think that prices will rally for sure when demand picks up a bit, and that's what makes buyers wait.

Nice Weekend!

Good people

There is a likelyhood of prices rallying down to 97.00 during the this week and next......then we will see a sharp northwards move to arround 102.00 before monthend.

.........But my challenge to you all is.......what drives the monthly candle levels???? I know there will be mention of WTI controls and world events etc.
Lets all examine this mathematically/economically'. Truth is there is a mathematical answer......prices can not just blindly be moving up and down without a reason(other than political etc)

One major contributer are monthly stock levels.......these levels can give a hint on the tradable direction during a particular month.

ottmnslap raised a good point and I agree with him. But we need to clamp down on the REAL shackers and movers of the monthly candle(apart from all analysis methods---trendlines, S&R levels etc.........what else is cooking in this pot????

What do you think guys

Crude oil price about to sink like titanic

Im watching this looks like a great short

Hi,
Brent Crude on a daily chart shows MACD Divergence. I think taking a long position with stop loss at previous day's low should be a good entry point.
please comment.
thanks.
mohit