MaryJane
Long

Double Bottom? Bullish Wedge? Long?

NYMEX:CL1!   Light Crude Oil Futures
806 11 33
We exactly dipped down to the 61,8 fibo of the last upswing 38-49, which is based @ ~ 43$. Yesterday, we kised this level again and it was bought directly..
If we would trade some more days above 43$, i see the chance of a double bottom . As long as oil             is trading below 43.7 $, the next round within the wedge could be initiated ( below 42.7 is high risk --> TP 41.9$).
46.54 $ is still the level to watch (see my former views) (MoB)

How do you trade this?

Best Regards Mary

Comment: classical false breakout (bull trap) - it seems as oil will test the "bottom" @ 43$ again - this is the Level to watch!
snapshot
Comment: kissing again the 61,8?
snapshot
Comment:
snapshot
Comment:
snapshot
Comment:
snapshot
Comment: todays high @ 46.85$ has to be overcomed for further upwaves with next tp 46,4$ - Attention! I see a shortterm bearish wedge!
snapshot
Trade closed: target reached: Yes BABY!!!
snapshot
hi mary... any further update to your last post ? I am long at 45...
Reply
Can we see $49 ?
Reply
MaryJane PRO pathaniasourabh
for sure we can :-9 but it subjects to many conditions :-9
Reply
what next Mary !! You have a new fan out here. do you recommend going Long now? if so, what price to enter and what should be the TP1?
Reply
MaryJane PRO ma.sanjuy
Hi fan :-) First of all: i never recommend anything! :-) I just illustrate nmy views/ analysis,/thought/ideas and i am happy if people out there can profitate from them. to oil: It seems that a new long-wave started...but thats only valid as long oil is tarding above 42.7$. Furthermore, i am a pure bo-trader, i only love procyclical trendy trades (BOs) now we have an anticyclical long chance with a nice crr, but i also stay flat and wait patiently for the next "real" bo-chance - procyclical :-) Follow my ideas/updates and form your own opinion - i always try to show my views more or less neutral...so any trader - if risk loving anticyclical countertrader / swingtrader or scalper can identify his own strategy and entrypoints ...Best wishes and good trades my loved fan :-9 Dear Mary
Reply
ma.sanjuy MaryJane
well said !!! i will like to go by yr :) Thanks for yr kind wishes.
Reply
ma.sanjuy MaryJane
by the way, both Oct USOIL (expiry today) and NOV USOIL are trading above $42.70... would it be ok in yr opinion to now go long? Current Market for Nov USOIL is about $43.91..
Reply
MaryJane PRO ma.sanjuy
hmm..we are in between a consolidation ( i hope so)- downtrend. Here you always have to know that all your trades at the longside are countertrades, against the maintrend (in this tf) So it depends of what kind of trade you are planning. is it just a scalp? -then you always can enter the market at every point :) If you want ta make a strategical or tactical trade i think it would be better not to trade against the trend - i prefer waiting till we see "real" long signal. perhaps this illutstrated triple bottom is THE bottom...but who onows?
snapshot
the caclical tp at the downside is the downtrends bottom at 41.4 ...but thats just thoery....i can recommend some: manage your risk well with a good mnoney management and positionsize you feel comfortable..safe the position and be dynamic with your view..markets are changing every minute, day, week and so on..Good trades!
Reply
ma.sanjuy MaryJane
tks for yr prompt revertal. will wait for the "real" long signal. I am a novice :)
Reply
Been waiting to long since yesterday.
Reply