If it works we can see a move above 1.47 in about 10 weeks. I'm holding a smaller long, and will be entering long only trades in the short term, to ride short term swings during the uptrend.
4h and daily should provide good opportunities for us during the NY session.
Oil is acting like a huge market top, and fundamentals have changed for the worse as well.
Best of luck,
Ivan Labrie.
4h and daily should provide good opportunities for us during the NY session.
Oil is acting like a huge market top, and fundamentals have changed for the worse as well.
Best of luck,
Ivan Labrie.
Note
I've trailed my stop tight in profit: We are near the monthly mode from the decline, if price doesn't break up this idea will fail, daily signals point slightly higher, and have a few more days left. I will short once we hit the monthly resistance and if short term charts align, if the monthly short fails, I will go back to this idea being a HUGE long.
Note
We had a nice gain and closed the long. Potential downside if the monthly downtrend resumes is huge:
IF this idea fails, we revert to going long again and aim for 1.47! Talk about crossroads...IF it works, we go to 1.07.
Note
Trade closed manually
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linktr.ee/ivanlabrie
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.