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zhipengcfel
Apr 29, 2016 4:08 PM

Trading 3#: Trading setup for US oil Short

Crude Oil FuturesNYMEX

Description

Open short at 46 with SL at 47.09
TP 1: 43.96
TP2: 41.9
TP3: 40.03

Good luck to me!

Comment

TP1 achived.

Comment


Elliott wave is quite clear for CLM2016. Oil has finished the double zigzag correction.

Comment


Sell the break!
Comments
ElPatron.Y
Good looking wedge.
ElPatron.Y
zhipengcfel
Nice!
GMOTruths
I saw also fib retracement from the lows with that same number.

News lines up with the technicals.

The supply level at $47 following a very long bullish run up from $26, and still with a downtrend on the monthly. Long DWTI here…
zhipengcfel
Are you typing wrong? Short DWTI here...
GMOTruths
No, long DWTI (3x Inverse oil). Short oil/long DWTI.

My target entry for oil shorting is labeled letter E.

After the initial dropoff this morning, I waited for a retracement. The retracement came, and the DWTI long position was entered where CL1 was at 46.50.

It's doing great!

Thank you.
zhipengcfel
Great!
IvanLabrie
I'm short too, good luck!
zhipengcfel
Nice! Let's see how it goes.
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