pparmy1991
Long

Bull confirmation from 200SMA

TVC:USOIL   CFDs on WTI Crude Oil
I think the cycle low is already in around the 200SMA on daily chart , after a big ABC corrective pattern and divergence on MACD , we might or might not break the previous top. The trade was confirmed with today's breakout with solid candle and high volume . Way overbought on 60min chart, that is usually the sign of turning instead of correction. I entered my long position at 200SMA, but took it out since the start is really slow and I think the low should be revisited. After today's rally, the possibility of revisiting 200SMA in short time is low. We might see $73 soon. Those sellers who still hope one more low will face the reality, probably next week or early September. I will add my long once I saw a 4 hour correction.
Comment: Not bad today. I will add my call option if I see correction for 1 more day above the downtrend line.
Comment: I think $1 to go before the 4hr pullback happens.

Comments

Bravo! Nice call!
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