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Oilshort

Oil Lower High Formation - Short TradeOil Lower High - Short Order Entry: $53.55 TP & RR: $51.05 (2.38) Stop Loss: $54.60 REASONS FOR THE TRADE Oil has entered into a bit of a range recently, but the formation of the lower high on Friday makes me think that we are about to see another lower high, which should then form a lower low. This is where we will be looking to take profit. The Stop Loss is set well above the highest high, so if we are to break that level, then we have clear invalidation of the setup. So, pay attention to the price action around this area, and should it break it, feel free to close the trade prematurely. The wide SL is purely for decreasing the position size, as I don't want us to lose a full 1% on a trade without a clear signal from my indicators.
TVC:USOILShort
by Quant_
Oil Descending Channel - Short TradeOil Descending Channel - Short Position Entry: $53.16 TP & RR: $51.61 (2.77) Stop Loss: $53.72 REASONS FOR THE TRADE Similarly to my previous trade idea about SPX500 from today, I am placing an alert at $53 and I will be patiently waiting to see how price action develops. You never know what's been going on in the traders' and investors' heads over the weekend, so we want to see the volume and a 1h close around that level before opening a position. I believe we are now in a downtrend channel, which should bring more balance to that longer-than-expected move up. My entry is quite high and we very much may miss it, so I have highlighted the upper trendline as an entry-level suggestion. Any position around that level with a SL place reasonably high should provide a good trade setup. Ultimately, I am expecting that we reach the $49 level (bigger trendline) before we move up again. Let me know what you think in the comment section below.
TVC:USOILShort
by Quant_
Oil Time For Reversal - Short TradeOil Short Trade Entry: $53.76 TP & RR: $52.41 Stop Loss: $54.51 REASONS FOR THE TRADE So far Oil has respected the channel and I believe that it is now reaching a point of exhaustion. This upper trendline from the channel is also in confluence with a fairly strong resistance level, so I believe a small pullback is due. The Stop Loss is well above the channel and similarly to the trade from a few days ago, if the price starts pushing up we will close the position because a spike up should follow.
TVC:USOILShort
by Quant_
USOIL Ascending Triangle - Long PositionUSOIL Long Order Entry: $51.04 TP & RR: $52.49 (2.54) Stop Loss: $50.47 USOIL Short Order Entry: $51.50 TP & RR: $50.01 (4.14) Stop Loss: $51.86 REASONS FOR THE TRADE As you can see I have mapped two potential trades here, but since the first one is Long, that's the center of the analysis here. What we see is an ascending triangle in an uptrend, so I expect Oil to have an explosive move up (no pun intended). With that being said, I also think that this trend is starting to get a bit exhausted, so if the price breaks down from the lower trendline I will be looking to open a short position. Alternatively, if it reaches the upper trendline I will hedge my long with a short to protect my profits and look for a suitable place to close the losing trade.
TVC:USOILLong
by Quant_
Oil Reached Upper Channel - Time For a PullbackUSOIL (WTI Crude Oil) SHOST SETUP IDEA Entry: $50.94 Stop Loss: $51.82 TP & RR: $48.39 (2.9) REASONS FOR THE TRADE So far Oil has respected the channel fairly well and I am expecting at least some pullback (best case scenario reaching the lower trendline). The Stop Loss is set at a good distance, so generally speaking, a small fakeout shouldn't trigger it. Breaking above that channel, however, would invalidate the setup and I would look for a good place to open long. If you are a breakout trader then this would be your opportunity. My suspicion is further confirmed by the two indicators I am using below, printing a decline in volume and momentum. The effective volume bars give a clearer picture of what's going on in a smaller time frame.
TVC:USOILShort
by Quant_
9
Trying to Gauge the Channel of $USOIL and SHORT-timing!$USOIL had established a descending trade channel. It has since recovered somewhat, but only in the sense that it has established a less-severe/drastic downward trend within the new trade channel outlined. OIL is definitely something that we see a SHORT on. While the market overall has enough bullish indicators, OIL topped out at an unrealistic value and the correction could actually come even without the S&P 500 tanking. These are different animals, but when $HAL climbed 20-plus with the pandemic only getting worse- it set off the SHORT TRIGGER. Whether readers agree or not, is enlightening; at least no one is throwing out insults b/c the notion we can predict the market over a week in advance is dubious enough by itself. GOOD LUCK! haha. -BDR See attached idea regarding the "bottom falling out" on USOIL. The thoughts are similar but there have been some adjustments since.
FX:USOILShort
by BDRTrigger33
Release the BEARS on $USOIL and $SPY: The question is WHEN?$USOIL and $SPY have the same bearish looks with the notion that this top out cannot last. Oil has stagnated already (slightly upward tick but overall very "sideways"), while the S&P closed with a strong rally--and with what nearly looks like a GAP... The reversal may not happen Monday, but this trader projects it to happen by late next week or early in the following trading week, after Christmas even. Please See the related notion of an ending bull cycle (or period, if "cycle" is too loaded a word for some)... This is something of redundancy but for a deeper look it seemed useful to parallel OIL w/ the S&P; they will tank in simultaneous fashions. --BDR
FX:USOILShort
by BDRTrigger33
3