Colgate repeating channelColgate has produced a repeating pattern, a channel that will most probably lead to a bearish break.
CL
oil, cl, day trading for Jan 3rdThere we got our big push that had to happen at some point now we have basically two red zones with good possible movement inside the bigger red zone for decent trades.
1) 64.10 - 32.73
2)63.67 - 63.21
there are some mathematical upper targets and then some prior down side targets, will watch so see if we are going back to yesterday prior range or pushing new short term highs, action reaction will be primary.
CRUDE OIL REACHING SELLING DECISON POINTCrude Oil is reaching a selling decision point. Wait any reversal candlesticks or reversal chart patterns or any divergence of any oscillator indicators.
cl, oil, day trading for Jan 2st 2020The action in oil is small range inside and balanced with little directional bias. With a bigger down side directional action inside a bigger consolidation.
This means I remain in a back and forth mode until the first blue line targets are violated. And a small directional bias when the red zone is violated, but remain looking for a long bottom of Red and short top of Red until more direction is established.
cl, oil trading for Dec 31stFor the last trading day of 2019 not looking for a lot to happen, and as long as oil remains above 60.50. I remain bullish on oil however for daytrading we have a 60.50 and 61.50 range that could be just back and forth.
Overall market in December is bullishIncrease of 12 percent since start of December.Crude oil futures price is bullish steadily. I would like to wish all of traders a happy new year and happy trading in year of 2020. Find a method that suit your personality. Feel free to message if you have any difficulties in trading.
cl, oil, day trading Dec 30thall action is long and looks like for now that will continue as long as we remain above 61.90. and early on will be looking for a pullback into that area and ten on bullish action will take the long side of the trade. In the event that area does not hold will look for a short down to 61.5 area.
looking for a double topweakness of an uptrend. waiting for a divergence in RSI before taking any short trade.
oil, cl, day trading for Dec 27thAfter one more step up oil balances again, watch red zone and if they break will work for nest upper or lower target. Bias is long but could be getting a bit extended in the short term.
oil, cl, trading for Dec 26thtoday I am not expecting a lot from oil, so be ready for me to be proven wrong, the red zone has smaller targets if it break. If no break will just trade oil back and forth.
4hs Analysis on Crude Oil Futures by ThinkingAntsOkUse this as a guide to develop your setup.
Main items we can see on the 4hs chart:
a)The price is inside an Ascending Channel (Major Structure).
b)Currently is against the upper trendline of the ascending channel.
c)As we can see on the previous behavior of the price, we expect it to start. a bearish movement towards the lower trendline of the channel
d)On the chart, we see a white ascending channel that has also been broken.
e)Now the price is on a corrective structure formation. We will confirm the beginning of the new bearish movement if the price breaks below the structure.
f) Remember never to rush your trades and always give enough space to your entry zone.
cl, oil, day trading for Dec 23rdtoday we look to be balancing at the bottom end of Fridays action and could be signalling for further down move and if the red zone bottom breaks I will be watching Friday's low for bounce or rejection.
A move upwards has many top side target taking us back to the recent highs.
Not sure how much action this week brings but could be interesting action or very dead.
cl, oil, day trading for Dec 20thOil is still working on this balance zone and I will trade the sloshing bath tub water until it breaks out.
There is not a lot else to say at this point
cl, oil, day trading for Dec 19thOil is again range bound with a smaller range and then a bigger one ( first blue lines- important) the range trading remains valid until the first blue boundaries are broke. and the red zone will pick the side i bias towards.
cl, oil, day trading for Dec 18thAfter hitting the first higher target yesterday and then pausing the up move, Oil is now testing range just above prior distribution. The important level to watch today is Red zone low, if we go below I would expect us to find balance in the 60 area. In the event we remain above the red zone low then a revisit of the highs and even to next target is most probable.
oil, cl, day trading for Dec 17thOil keeps pushing to the up side and has a nice possible bullish formation, so will be watching a break to the red zone for direction from here.
a move back into yesterdays pricing should see a fast move to 60.
A trade is there based on the red zone break.
oil, cl, day trading for Dec 16thoil has been moving up and working in a smaller balance near the current price highs, I will be looking for long trades as long as red zone bottom holds.
A few top side short term targets are marked off screen above.
If red bottom breaks then would expect we go back to prior distribution around 59
oil, cl, day trading for Dec 13th (Friday)Oil had that breakout of the range as I expected was coming soon and now the important level is if we hang out above this prior level top or move back down inside the prior range. This is the area we are testing as of this writing and is also the level I will be looking to trade long off of. It is a good level due to the defined risk reward levels.
cl, oil, day trading for Dec 12thEverything I said yesterday still applies today so look at link below
Trade Setup on Crude Oil Futures by ThinkingAntsOkUse this as a guide to develop your setup
Main items on the 4hs Chart:
a) The price is inside an ascending channel
b)Currently, it is against the upper trendline of the channel + Resistance zone (Potential area for reversals)
c)We can see a corrective Structure outside the ascending trendline (white line)
d)IF the Corrective Structure is broken with a bearish movement, we expect a continuation of it towards the lower trendline of the channel and then to the support zone at the beginning of the channel
e)We set our orders as explained on the chart/ENTRY/STOP/BREAK-EVEN/TAKE PROFIT
f)IF the price makes a new Higher High we will cancel our setup
Daily View
oil, cl, day trading for Dec 11thOil is trading inside yesterday and is in a tight consolidation. I will be looking for a decent sized move out of this range and today oil report could be the trigger. My plan is simple watch the red zone for a break and trade small and inside until the break happens.
