WTI Oil: Resuming Short-term Bullish Trend?

FX:USOIL   Crude Oil (WTI)
751 3 13
Starting again with a WTI Crude Oil             trade, it looks interesting for me, i am aiming for a long position as i see potential for resuming the bullish trend following this bearish correction.
The bearish correctional is probably taking the shape of the falling broadening wedge which usually unfolds in a bullish way, meantime, the price was rejected strongly of the 50-percent Fibonacci retracement level, and RSI momentum is signalling a clear bullish divergence.

I will long near 102.10-102.15, with initial target at the descending resistance of the wedge.

Good Luck, haven't joined me yet? please do :

Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game ;
My live trades here
timwest PRO
2 years ago
I was looking at Heating Oil today and thinking along the same lines. Nice chart and strategy.
Heating Oil Front Month - Lock in Low Prices for next winter
Technician TOP timwest
2 years ago
Yep, I read your post, interesting Hope this one will workout.
Target hit, too bad missed entry by few pips
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out