forker
Short

CL - Crude pulled back to L-MLH. Ready to fall?

NYMEX:CLK2017   LIGHT CRUDE OIL FUTURES
Crude is in correction mode.
It's beautiful trading within the Pullback-Fork and has broken the L-MLH of the smaller blue PB-Fork.

The actual pullback to it is textbook like...which I like! ;-)

P!
Comment: BTW - If the main chart is confusing, try this one :)


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Comment: drrrropppingggg hehe...
Comment: ...still some more to go, but in the nearer Fork/Swing, the L-MLH was reached.

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Trade closed: target reached: Here we are, at the sliding parallel of the weekly.
This is a good place for take profit, although I no that "Greed is good" ;-)

Let's see if we have a re- entry on a test/retest at the L-MLH:

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Hi Forker,

There is a good support at 48.xx as i am writing this and the candle is set to break above Tenken Sen on my H1 Time Frame.
If it does not go below 48 today, I think there might be a possible reversal.

What do you think?

Rgds,

Reply
Hi @R81

I can see this bounce coming, yes.
But first, therer will probably be a retest of the centerline.

Happy Day mate.
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I posted an updated chart, we nailed this one eh...
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forker PRO IvanLabrie
hehe...happy campers ;-)
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Another PB up to scary out the week hands.
The close was superb below the L-MLH.
Took already partial profit by selling the strangle, but letting the future ride.
Depending on price action today, I'm willing to setup a new strangle...

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Looks like they don't get it...

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I'm short too, let's see.
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forker PRO IvanLabrie
I think the price movement will scare many out of this one.
Curious too :)
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