Raymondbig-rayOmane

LONG and SHORT , USOIL

FX:USOIL   Crude Oil (WTI)
51 1 1
Description: As shown above we have FX:USOIL             . This future is currently Bearish on the Weekly. Price Currently Around 49.21,

Monthly Indicators
EMA: 20 crossing 200, If 50 crosses 200 , expectation of Future Price to Become Bearish
RSI: Bearish Territory, See Monthly and Weekly


(Weekly) -
Price has been bearish since Oct             2014 to Present
Currently at Major Price Acton
EMA: 20 & 50 Broken 200 EMA ( Bullish )
Candles: Current Candle - Bullish Engulfing

Price (September 2015) Attempted to break Previous Weekly Resistance 50.19, Rejection back into Structure Bearish
- 3 Wicks Attempted to Break W trend Line resistance, Rejection.

(Daily)
Bullish Channel Feb 2016 To current
EMA's: 20 % 50 Crossing 200
RSI: Bullish Territory (Over the 50)


Duration: Long Term
Decision: I will short this pair And Long This Pair.

BUY: If the next bullish candle breaks monthly resistance & Monthly Trend Line Resistance, i will look to take a BUY Position around (Prev W Res 50.19) - Stops will be just below (M Res 49.23) (20 EMA) And targets will be at (M Res 51.65) And extended Targets to Trend Line Bullish Channel at 54.67

Entry: 50.67
SL; 48.56
TP1: 51.65
TP2: 54.47

SELL: If price Rejects( M Res 49.23) and Trend Line Resistance, I will wait until price Breaks( M Supp 47.85) And Look for targets into (Prev M Supp 45.85) and extended Targets into 200 Magnetic Support. Stops Just Under( M Res 49.23)

Entry: 47.16
SL: 48.90
TP1: 45.85
TP2: 43.87

Thank you for viewing my idea. If you decide to take this trade,please leave a comment and a thumbs up. I will be happy to stay in touch to see how the setup is planning out.
Your also welcome to post your analysis below.

Remember to always trade your strategy

Happy Trading
Downside Target Reached ! :)
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