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CL Light Crude Analysis TPO/MP/VWAP/VPOC


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CL Light Crude Analysis TPO/MP/VWAP/VPOC

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  #1781 (permalink)
 greenr 
london/england
 
Experience: Advanced
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Hey long time posting here

Thought i would share my analysis and trades today on CL

Here is my view of the bigger picture, so ill explain from a Top down perspective starting with the Weekly in this case



What we can see here is clear consolidation in the form of a MAJOR price wedge, inside the major price wedge is a large bracket and within the large bracket we can see a clear micro bracket. Now lets zoom in on a daily chart and take a look at these levels in a more detailed view



So as we can clearly see Crude is in a major consolidation period and as we zoom in on the daily charts we can see the two bracket zones we referenced on the weekly chart. At the moment we tested the lows of the macro bracket we have been trading in were we clearly seemed to have found buyers stepping back into this market at the lower end of the $90 a barrel area. Now we have defined some key reference points on the larger time frames lets zoom in on the Daily TPOs to see a more detailed view



So from my analysis as long as we hold the micro bracket lows i am very bullish on this market until otherwise proven wrong with a break down below this key reference point. So with this information at hand i was looking to be a buyer around the $92 a barrel area today. I had 3 swings long at this market today (still working on my patience, but managing risk is the key to any position)

1ST off yesterday’s ETH Vwap which lined up with the ETH DVAL off the open US open

2nd off Yesterdays RTH DVAL which lined up with today’s 1st IB extension

3rd off Yesterdays ETH Vwap DVAL which lined up with today’s 2nd IB extension

Here is the trade of the day as it unfolded





We actually ran further after i got out of this trade, i planned to target yesterday’s HOD which lined up with the 2nd upper IB extension. With the order flow coming in at that time i could have pushed my target higher but i stuck to my plan of action that made sense to me at the time

Any ways hope you all had a great day trading if you want to catch me iv started a blog on blogger you can catch me and any questions are more than welcome

Market Profile Day Trading Academy

" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
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  #1782 (permalink)
 
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 COTtrader 
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Got in after trend line break above Pre-market low.

Ken

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  #1783 (permalink)
 
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 COTtrader 
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Crude and other commodities continue to follow the sell off in equities beginning on June 19 and again last Friday the 28th.

Using pattern analysis, the formation confirmed itself at bearish point D.

Ken

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  #1784 (permalink)
 
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 GaryD 
Orlando, Florida
 
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greenr View Post
Hey long time posting here

Thought i would share my analysis and trades today on CL

Sometimes "shut up and trade" is the best medicine. Glad to see you back. Let's Skype.

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  #1785 (permalink)
 
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 GaryD 
Orlando, Florida
 
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greenr View Post
Any ways hope you all had a great day trading if you want to catch me iv started a blog on blogger you can catch me and any questions are more than welcome

Market Profile Day Trading Academy


I read through your blog, great job.

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  #1786 (permalink)
 
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 Big Mike 
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How are the oil guys doing these last few days?

Mike

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  #1787 (permalink)
 
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 PHXtrader 
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Great!!! Feel like I'm finally turning a corner in my trading. Thanks to Ben and Ryan

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  #1788 (permalink)
Magellan
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I`m glad to present my daily crude oil trading plans using Market Profile concept. But it`s in russian Unfortunately I have no time to make posts contained both language versions, but U can use translators . I think that using the machine translators with avaricious machine translating for time saving could seem some disrespect to Big Mike and to this forum at all. I`ve started to make screenshots with whole english comments for more easy understanding. Visit please: Thanks.

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  #1789 (permalink)
 
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 David_R 
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CL has broken out of substantial trading range. It is getting a bit over bought in the minor trend channel, but still has some room to go in the larger channel. The accent is fairly steep at this point. A pullback to the breakout point of 100 could be a nice area for a long if it can get down there.

I've marked a potential AB=CD pattern that would reach target at around 110. This is also where several lines, both horizontal and diagonal come together. The measured move of the trading range at point d, if were to complete would target around 112 and is in line with the prior high of 2012. We will have to see how it acts when and if it gets there.


D

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 Big Mike 
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Mike

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