XiaoLi

Strong Sell: WTI Daily level looking at 47.74

Short
FX:USOIL   CFDs on Crude Oil (WTI)
352 views
7
WTI breaks the previous wedge on 10/17 morning;

Daily the level, it is a pretty good chance to short when pullback a little near the lower bound of the wedge again (around 49.9). Two target, consider to play bear conservatively, have been set for this trade: 49.06 and 47.74. On the top of that, it is very likely to see the "retrace 0.618 point" later this week or earlier next week. Then it might a good chance to long from there. (I will update that part next week)

At the moment, SL could be safe to set at the higher bound of the wedge .

Best luck and enjoy the trading;

Comment: break out at 50.7, SL triggered

Comments

draw lower wedge support through EIA wick and you'll get an intact wedge
Reply
XiaoLi GeneTyne
that sounds reasonable my friend; however it could also explain as a libra pattern while 50.55 can be seen as a should in the pattern; as now I can see, it is not likely to go higher than that in the next couple days.
Reply
GeneTyne XiaoLi
stats this week will sort it out. but probably more consolidation around here
Reply
XiaoLi GeneTyne
shoulder*
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out