morshedul.sazid
Long

OIL Bullish Bat Pattern confirmed Long with AB=CD

NYMEX:CL1!   Light Crude Oil Futures
1178 10 30
Waiting for price to hit 39.17, this is where the bat pattern completes. Already Ab=CD completed at 40.30. We have a nice RSI bullish divergence . As we know this divergences does not work alone, need to be confirmed by other methods, so I have a bullish bat formation and also a AB=CD pattern. Targets would be at 43.02 and stops at 36.07.
Still holding my monthly support zone. Can't find enough momentum yet to breakout
Crude is testing critical support zone
+2 Reply
morshedul.sazid themarketzone
We need to wait more maybe :)
Reply
Dangerous...good luck.
+1 Reply
Thanks bro :)
Reply
manoj15 morshedul.sazid
if the break out in oil is there than can we short usdcad?
Reply
I do not trade like that: neither Do I suggest. I just do not do Pair correlations. If i have a short opportunity there in usdcad then I will sure take it :)
Reply
manoj15 morshedul.sazid
Sir but usdcad and oil are always correlated. i have experienced it.
Reply
Yes: I agree. But thing is: I will only short usdcad if I have a selling opportunity :). Any Bearish pattern.
Reply
manoj15 morshedul.sazid
thanks for the advice. i am just learning.
+1 Reply
Good luck!
Reply
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