UK Brent Crude Oil Trading Strategy: The Hammer Says it All

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Market Update

The commodities market suffered great losses on fears of an economic slowdown in China and pro-democratic protests in Hong Kong. The fact the Ebola virus is on US grounds did not add the risk aversion in global markets, sending the leading indices lower across the board. Ahead of the non-farm payrolls we appear to have multiple entries in the Forex market and UK Brent crude oil as we will soon clarify. If you are new to the trading we recommend reading how to construct a trading plan in global markets.

UK Brent Crude Oil Technical Analysis

Our trading strategy for UK Brent crude oil is completely bullish. We have a clean entry on the daily chart as the market ‘hammered’ a bottom, suggesting a rebound is due in today’s session due to the upcoming Non-Farm Payrolls at 12:30pm GMT. Due to the expected market volatility, we are setting an entry order at a lower price as part of our trading strategy.

UK Brent Crude Oil 4hr Chart

Please click on the chart to enlarge:

UK Brent Techincal Analysis 3 October 2014

UK Brent Crude Oil 4hr Chart 03/10/14

 Our entry order is set at 92.63, protective stop layered at 91.38, targeting 96.50. The duration of the trade is for 7 days although a decent profit is expected at today’s session.

USDCHF Technical Analysis

Our previous attempt to capitalize of USDCHF has failed. We have a nee bearish entry on the daily chart, indicating the forthcoming reversal. The shooting star along with stretched technical indicators is all that is required to determine the US Dollar is expected to weaken from the Non-Farm Payrolls.

USDCHF Daily Chart

Please click on the chart to enlarge:

USDCHF Technical Analysis 3 October 2014

USDCHF Daily Chart 03/10/14

The entry is at market price, protective stop layered at 0.9639, targeting 0.9458. The estimated duration for the short trade is 7 days. We are highlighting out EURUSD trading strategy on the 4hr chart, which has given a long entry based on our technical strategy.

We would have also liked to take USDTRY as short trade but we are placing our outlook on hold the technical entry is not inline with our risk management techniques. Updates will be posted at the bottom of this page.

UK Brent Crude Oil Trading Strategy: The Hammer Says it All
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UK Brent Crude Oil Trading Strategy: The Hammer Says it All

                                             UK Brent Crude Oil Trading Strategy: The Hammer Says it All

UK Brent Crude Oil Trading Strategy: The Hammer Says it All

Last Updated on August 9, 2015