rnijhara

rnijhara

CRUDEOIL in paralle channel

rnijhara

I'm back to Crudeoil trading. I take my trade decisions in Crudoil by looking at USOIL price action. Here USOIL is in a parallel channel. I took a long trade based on this today.

rnijhara

Triangle pattern forming up in USOIL. Watch which side it breaks.

rnijhara

Another triangle pattern in USOIL. Wait for a breakout before taking a trade.

rnijhara

CRUDEOIL followed USOIL's lead and opened gap-down today thus breaking its long term parallel channel. Provided a good opportunity for a couple of short trades.

rnijhara

USOIL today broke the wedge pattern which I had posted last week. Gave an easy opportunity for a short trade. I have marked a key support level and a support zone.

rnijhara Updated 

Crudeoil has been in a parallel channel from quite some time. Provides an easy opportunity to capture 10-20 points every day. Waiting for a breakout and a big move.

rnijhara

It was a sell at 2980 right after the pattern break and exit at 2940 at the parallel channel support, with SL at 3000

rnijhara

USOIL wedge pattern in 15 min time frame.

rnijhara

USOIL is in a wedge from the last 13 days. I am expecting it to continue like this for another week till a clear triangle pattern emerges and it breaks in one direction.