We just saw a double top pattern in WTI which is signaling a downtrend in Crude Oil . We are shorting it now looking for a 64 as first stop our final target is around 55.
Keep in mind that a break on 66 or 64 may be the start of a large move.
Short from 66.20
SL at 67.18 just above the top. Will be chasing down this baby.
Took partial profits, let's wait some more and seek for RESHORT opportunities.
We entered a reshort from 64.30, now taking partial profits at 63.00
Expecting to see a lower move but I want to to see a retest and then enter another short.
Trade closed manually:
Enough of shorts, let's aim for 80!
After the weekend, we analyzed and determined a SHORT was worth it. Short from 67.05, winning so far.
Will follow up on our most recent idea.