MaryJane
Short

Simple 1-2-3 Short Scalp?

NYMEX:CL1!   Light Crude Oil Futures
710 3 25
1-2-3? What is that? Feel free to read more about my favourite Setup:

We have reached the min correction Level 38,2 @ 45,12. Here the sellers waited again. Let`s see if the consolidation will go further up to the max correction Level @45.5$

-Breaking through the illustrated last valid "2" will activate the shown example-shortposition (SL near above the possible "3?", TP= "2?"

Most of my updates are only up to date for my followers - i mostly update my ideas in the comments, not through another publication - so please follow me if you like to get updated every time! Comments are welcome and very helpful for me - Agree or Disagree.


Main View:
Can this be true? Dez             2016: 75$ ???
https://www.tradingview.com/chart/CL1%21/Jjjwoqc5-Can-this-be-true-Dez-2016-75/
What do my tired eyes see?? Isn`t it a big bottom pattern in form of an exemplary H&S?
The RSI signs, that there is still a bit air on the downside. A dip back to the 38,2 fibo @ 41,92$ would be great. A dip to the 0,5 fibo normal and a dip to the 61,8 maximal.
If this level would be bought, a H&S is being formed. Prices above the neckline could interpreted as a BIG LONG SIGNAL.
I have illustrated the possible TPs in my chart

Update Main View:
https://www.tradingview.com/chart/CL1%21/684zvCkk-Update-Main-View/
Today we have reached the 61.8 fibo of the downswing 51,6-39,3 (yellow fibos). The open position is comfortable in the win (+7.25$).
At this fibo level a corrective downmove is possible (BBs are stressed out) - perhaps down to the "traders dream" - the 38,2 fibo from the movement ( 39,3-47,04) at 44,82$ - the former breakout level!
At latest here the present midterm uptrend in this tf should be resumed.

My Main view is still active!

Comment: we are trading near the short/-Long trigger - the rsi is oversold again, so we can exspect a little spike before the possible bo
snapshot
Comment: Nearly operfect! It s time to lose a part of the position and adjust the sl very close to the present price
snapshot
Trade closed: target reached: tp reached..nice ! longchance now?ß
snapshot
Comment: new view here:
Comment: consequently the sl should be a bit below 42,95..here is the above illustrated 6+2,8 fibo in the higher tf - but for a scalp it would be too wide, for a position /tactc trade ok
Comment: let´s close the scalp..it seems bearish furthermore
snapshot
Comment: perhaps we could try again the same at the exact trendline ?
snapshot
Comment: or let`s catch the breakout up to the resistance (last support)
snapshot
Comment: this would be the riskless version..i don`t like countertrades..i never catch the bottom..so let`s get stopped in end let the market decide if the position gets triggered or not
Order cancelled: i cancel all longorders.i don`t want to fight against the trend...
just waiting ,looks risky
Reply
Nice analysis MaryJane! Thanks for sharing :)
Reply
thank you Mary
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out