CRUDE OIL H4 CHART

Crude Oil Technical Analysis And Trade Idea 02-05-2018

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Crude Oil is testing the lower border of the cloud and below EMA 50.

64.50 is the Fibonacci Expansion 61.80%. RSI is bearish.

An H1 closing below the current level ( 64.75 ) will carry the price 64.50 and 64.06.

64.06 is our main support of today. Break below 64.06 may cause deeper pullbacks towards 63.28 and 62.50. ( We will also focus on the breakout of the red trend line)

If Crude Oil makes H1 closings above 65 USD, the direction will turn north towards 65.60 and 66.40.

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Warning: All markets trade in different phases; bull and bear markets don’t start overnight. Markets build through three major phases and depending on the time frame you are trading, you will see different phases.

If you enter a trade by analysing the H4 chart frame, this is just a day trading, your stop loss and take profit levels must be set up accordingly.

WARNING ABOUT TRADE IDEAS

  1. We enter trades on different pairs and we look for other trade opportunities. So we recommend you to enter trades with the smaller size.
  2. Do not exceed 10% margin.
  3. Stop Loss and Take Profit Levels are +/- 15 pips minimum.
  4. If we do not publish an update close the 40% of your position on the TP1 level and move your stop loss to entry level.
  5. Some trades ( especially with 300-500 pips profit target) can take 5-6 days to hit the targets. If you do not have patience, do not enter the trade.
  6. Our aim is to close each with week 2500-3000 pips profit minimum.
  7. If we mention as “pullbacks are buying/selling “ opportunities and we publish pullback levels, you do not need to wait for a signal from us. Use these opportunities at the mentioned levels.
  8. All markets trade in different phases; bull and bear markets don’t start overnight. Markets build through three major phases and depending on the time frame you are trading, you will see different phases. If you enter a trade by analysing the H4 chart frame, this is just a day trading, your stop loss and take profit levels must be set up accordingly
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