Get started
sanasaeed

USOIL Short: Tweezer Top Identified on 1Hr Time Frame

CFDs on WTI Crude Oil (TVC:USOIL)  
sanasaeed  
TVC:USOIL   CFDs on WTI Crude Oil
Trend Analysis Candlestick Analysis Trend Lines Crude Oil WTI usoilshort usoilanalysis usoilforecast usoilsignals
0
0
trendanalysis candlestick trendline usoil usoilshort usoilanalysis usoilforecast usoilsignals
Trend: The overall trend is downwards as it is making a series of LL and LH according to DOW theory.
Reason for taking Short Position: A formation of the tweezer top at the LH of the chart indicates the price will move downwards from here and touch the bottom of LL.
TP1 is set to the LL of the chart where as TP2 is set to the next resistance level.
SL is placed as the LH of the chart.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.