44.18 or 50.65 The price went beyond the descending channel. Returning to the downlink will confirm the trend downward. Otherwise, the goal is 50.65.
Looking for break out above 51.58 for upside breakout.
this idea is about shorting into wave c , short target could exceed the pointed target or could be done just by it , eventually the trade will reverse to long towards 52+
we are still in a correction against the uptrend that might take a couple of weeks then resume uptrend
Lower highs and lower lows. A possible short trade could have its stop loss at the last high.
Expect a continues slide to pressure Support in this market for a few days.
Trading can be simple. You do not need 10 factors, or trade enhancers to take a trade. Armed with a simple RSI, knowledge of structure and trend is good enough. Currently, crude oil has found support on a previous support on the daily chart and rallied into the close of Friday. For traders who want to long, well they got it. Now they have given the advantage...
This is a nice Cypher pattern on a 4 hour chart. I'm now using the 1 hour to pinpoint my entry instead of the usual 78.6% X to C leg. The sole reason is the momentum looks too good to go long. Thus, instead of trading blindly, i opt to wait. If during the process the rally exceed point X, it nullifies the trade and save some bucks for me. 1 Hour already signify a...
Commercial longs and short both added big last week. Usually a good continued bull move signal
If you view my last published chart you can get a fairly clear view of the sideways consolidation that I'm expecting to continue in the coming weeks, in a 45.6-50.4 range, the main trading meat being 46.81-49.18. This range is based on major Supply and Demand (2009 Rally) levels during what I consider Fair Value oil prior to the US initiating QE following the...
If you're a fan of pivots, and want to learn how to trade false breakouts (specialist trap, 2B, or failed pivots as they're also known, you could make a lucrative living off this style of trading. It's also known as a "wash and rinse trade". You can look these up on the net in a lot of places. These formations appear on many markets, futures, forex and stocks and...
Starting for the new up trend people. I am taking my long position.
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