TVC:USOIL   CFDs on WTI Crude Oil
Oil is a bouncy baby lately. I will be using caution here.
- Price at a daily 200EMA
- Price resting on a strong trendline
- Price oversold on lower timelines.
Price action play here, limiting my risk.
Oil inventory numbers come out tomorrow, FYI.

Good Luck!
Jan 15
Comment: An even more clear reversal candle has developed today, "High-Wave" anything can happen, but price is showing slowing.
Jan 22
Trade closed manually: I had several contracts on OIL, it gapped up Sunday night and I started taking profits, I am just simply not seeing follow through in trades these days, I locked in profits and left a contract to run which was closed at just above break even. I disclose my losing trades and this was not one of them.

Note: there is a discussion being tossed around the TA industry about OIL and S&P500 correlation, makes sense on a fundamental level as OIL can be a bellwether for trade.

Good luck out there...this ridiculous S&P500 gain is scary.
Ideas posted for educational purposes only. I am not advising you how to trade or invest your capital. Reach out for mentoring in this craft.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows 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 Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out