VasilyPonomarev
Long

USOIL (WTI): Trading Plan & Top Down Analysis

FX:USOIL   CFDs on Crude Oil (WTI)

hey traders,

a lot of followers have asked about my thoughts on WTI and when can we expect a pullback after a selling rally.

currently, I still have a short trade active from 63.0 level BUT
the market has finally reached first strong  structure support  and analyzing a price action it looks like
indeed selling volumes are weakening.

on a weekly and on a daily you can see a very peculiar conjunction of vertical and horizontal support.

on 1h the price started coiling within a  falling channel  .
for us, a  bullish  breakout of it will signify a change in sentiment
so it will be a perfect confirmation to long the market.

target levels will be 59.75 / 61.0

stop strictly below the channels last L.L

*remember, this is not a call to action trade.
I give you my plan on execution.
Let the conditions to be met before trading!
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❗️VIDEO ANALYSIS https://youtu.be/BsjEU8MzUFw

Comments

This doji you mentioned might make this down at 56.6x area also. Or much lower then that.
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