Trading setup for usoil (2016-08-09)

NYMEX:CL1!   Light Crude Oil Futures
USOIL             met a big resistance at upper line of the decline channel and was rejected back yesterday. It forms a nice short setup if it breaks down the sharp rising channel .

Good luck for everyone!

No confirmation, no trading!

Notes: if it breaks out of the decline channel, this setup will be invalid!
Comment: It seems that it got supported from the rising channel. This setup might be invalid. I will open long if it breaks out of the decline channel.
Trade active: Double top formed.
Comment: The double top neckline was broken. Nice progress!
Trade closed manually: Choppy oil~~~
Trade active
Comment: Triple top formed!
Comment: Nice progress! The triple top neckline was broken!
Comment: TP1 was touched! 41.8 was broken. I move the SL to 42.28.
Comment: Half of position was closed. The remaining SL moved to 42.17.
Trade closed: target reached
sir good analysis please posted continuously forever to learn novice trader like me
+1 Reply
zhipengcfel prasanro
Thanks. I will update for each setup. After closing one setup, I will post a new one.
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