USOIL

Looking for a short play here

Channel still up correction indicate a little move down and evaluate tight SL

If you want more analysis and better set up/education :
I just opened for public my trading group and if you want to follow more in detail and be part of my work day, you can join on a monthly basis.
If you are interested private or telegram @ M0byy

Note

Note

Weekly channel

Note

Big support trendline black / Ultimate support red line hortizontal

Note

Trade is little risky , we are on support but i think is gonna go a little more downside thats why this set up is short term play and tight sl

Note

Update OIL we closed above 30ma ( short term ) still think we need test intermediate and long term ma as you can see target 1 and target 2 for intraday traders i will look for short if it bounces this week

Note

Monthly Crude

Note

So we have a td9 candle on monthly , then flip candle not correction , hammer , flip flip and finally stopped.

what could happen here is we will test 68/69 usd area i hope this week and then we will see if it bounces weak or hard ( if not bounces we will look for a major correction on crude

Note

fractals to make us an idea , this are fractals , the difference here , long plot ma ( 128ma) is above price causing pressure so i bet we will go back to test 68 69 then see if we can bounce and make a long there !

Trade closed: stop reached

Stop hitted!

Note

got stoped on my trade because was very tight SL but opened a new position once it fell below 71.88

Trade active

Note

considering taking some profits here and stoploss in profit set up at 70.88

Note

out and looking for maybe a long position

Trade closed: target reached

Note

target hitted my post from 13 october

Betmore66

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.

Betmore66