Yesterday I posted re: Opec. Just as forecasted in this channel yesterday, The most anticipated event of the week, a decision by OPEC+ on whether or not to cease its monthly 400,000 b/d oil production rise, turned out to be a bit of a non-event, with the nations agreeing to remain with the previous plan but retaining the flexibility to reverse that decision if...
OPEC Agrees January 2022 Supply Hike Less than one month ago, WTI Crude Oil was trading at about $85 per barrel, which was a multi-year high price. Over the past three weeks the price descended rapidly from that high, and today extended that trend to approach the 6-month low price at $61.76. The pace of this downwards trend accelerated a few days ago with the news...
Central banks have considerable power in the foreign currency market. Central banks are primarily responsible for long-term inflation management while also contributing to the general stability of the financial system. When deemed appropriate, central banks will act in financial markets in accordance with the previously specified "Monetary Policy Framework." Forex...
Currently, we are seeing the ema 200 holding strongly. With the new variant detected, we might see further drop if price is unable to clear above 52-54 level in the coming weeks. The trend is still a strong upward trend. It is a good buy and hold area, but expect volatility in the upcoming few weeks.
Hello all, Right now the price is breaking out of the long term rising wedge and most importantly out of the structural level (75-80 USD). First of all, we need to wait until the 1D bearish candle closes below that stuctu- ral level. After that the retracement is very likely, which will give a chance for a successful entry. The entry should be at the structural...
After falling from $ 107 to $ 26, the price stopped at $ 76 in a bullish wave. After falling price below $ 12, it was able to cross the $ 76 area in the next uptrend. We are currently waiting for the price correction. The ranges $ 46-43 or $ 36-33 could push the price towards the $ 103-108 .
The West Texas Intermediate Crude Oil market has broken down a bit during the course of the session on Thursday but has seen a bit of buying pressure to test the 50 day EMA. The market is forming a bit of a hammer, and now that we have had a nice pullback, it does make a certain amount of sense that we would see this market continue to go higher. At that point, it...
The West Texas Intermediate Crude Oil market fell on Wednesday to reach down towards the crucial 50-day EMA. The 50-day EMA is an area that will continue to cause a certain amount of attention, but it should be noted that we have sliced through the $80 level rather easily. We are closing towards the bottom of the range for the day, so now the question is whether...
I love this setup. It's pretty rare. It shows hidden massive bull power. And if we can sell oil higher it's great news isn't it? So Here is the setup: if Oil goes > 78.873 I will be buying oil with a stop loss 25c bellow the low of the previous day (SL at 77.45). Target is $6-$10 up or 3 daily green candles whichever comes first. Let's rock n roll if this is...
looking to go long on oil on a 4h chart with 4h shift in momentum at this weekly area of demand in a weekly uptrend
The market as it has for the whole of October is looking great frame a higher time frame perspective but very poor from a lower time frame one, at least in terms of opportunities which meet my plan. So this is just a quick trade update for you where the short trade that I placed yesterday on WTICO/USD is concerned. Patience always pays folks and I'm in this game...
WTICO/USD: • If price corrects and a tight one hour flag forms, then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on...
GBP/NZD: • If price pushes up to and ideally just above our lower rayline and it does so correctively, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan...
The West Texas Intermediate Crude Oil market has initially rally during the trading session on Monday, reaching towards the crucial $85 level. The $85 level of course has a certain amount of psychological importance attached to it, so it is worth paying attention to the fact that we have fallen from that level. The market forming a bit of a shooting star suggests...
WTICO/USD: • If price corrects and a tight one hour flag forms, or it impulses down still further, it does so in a convincing manner and a subsequent tight one hour flag forms, then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until...
The West Texas Intermediate Crude Oil market fluctuated on Tuesday as it sits just above the $80 level. When you get a strong move to the upside like we have had, the market will either go sideways to digest its gains or pull back. At this point, it looks like we are going to settle on grinding sideways and digesting the previous move. If we were to turn around...
OANDA:WTICOUSD looks like it's giving great entry for a short position down to the target below. RSI appears to be in agreement.
Good morning all. I hope you're having a fantastic week so far. So I'm currently still in my EUR/GBP trade (for the moment at least). The momentum never really kicked in to the upside as I'd hoped and then price retraced very aggressively in true EUR/GBP style. On the balance of probability I thought at this point that I'd probably be tagged out for a loss...