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CFDs on Crude Oil (WTI)
Short
Updated

Crude Oil bit more correction before a big SHORT trade

1 155
USOIL

Time frame: 4 hours

Trade idea description:

Crude Oil have been trading in a multi-days expanding channel, so far it is just few points away testing the top of this channel.

Over all trend is bearish and market is in a corrective structure, momentum on higher time frames is bearish as well, so keeping bigger picture in mind, i am waiting for this market to test the top of the channel where I see scope for MACD divergence, and fresh falls to be setting up. Stop and targets are mentioned on the chart.

All the follow ups will be posted under the update section.

Thank you for your support.

Trade safe and good Luck!
Trade active
snapshot Reached the top - looking for an exhausted move (kind of double top) to then short this market.
UmarAbdurRehman
Also on:
EURGBPTechnical IndicatorsjpyTrend AnalysisUSDCrude Oil WTIusoilanalysisusoilforecastusoilshortusoiltradeWave Analysis

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.
EURGBPTechnical IndicatorsjpyTrend AnalysisUSDCrude Oil WTIusoilanalysisusoilforecastusoilshortusoiltradeWave Analysis
UmarAbdurRehman
Also on:

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.