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Zoen_Trieste

USOIL Possible Bear Continuation Targets

Short
CFDs on WTI Crude Oil (TVC:USOIL)  
Zoen_Trieste Updated   
TVC:USOIL   CFDs on WTI Crude Oil
Trend Analysis Chart Patterns Gann Oil gannangles oilshort continuationpatterns 45degreeangle
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trendanalysis chartpattern gann oil gannangles oilshort continuationpatterns 45degreeangle
USOIL is being well supplied after pulling back to the grand 45 degree line coming down from the top. If 5000-5050 area fails, the bear case becomes more relevant. Assuming pre mortem conditions, the inventory report turning this around and supply being dried up by incoming new demand, it is reasonable to look for entry opportunities on the lower timeframes. It's better to get out after being proven wrong shortly after entry than hold the bag for who knows how long.
Comment:
USOIL 1H
snapshot
Here is lower timeframe perspective at the same picture
Trade active:
Sold here, 70 ticks stop
Trade closed: stop reached:
1R loss on this short setup
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