MIchaelTran
Short

Decending triangle

FX:USOIL   Crude Oil (WTI)
82 2 2
Iran nuclear deal, Russia's huge oil/gas 30 years offer to China (of course, Chinese goverment love cheap price deal) and global trend of renewable energy/ effiecient energy and new hi-tech efficient oil             rig produce more oil             but less cost operation ... In long term it sounds bearish . I'm not sure how it will affect oil             price market in the future to make right prediction.
However, chart shows a decending triangle, and price is approaching the up trend line in 4h time frame, and it migh be broken-down.
Low oil             price also encourage household spending more due to low transportation costs. Think about global economy is slowing down plus high cost gasoline, it can be dangerous.

Thank you for your reading.

Note: This chart is for personal study.

Related Ideas

snapshot

almost there- gain small profit, in this case, losing and gaining are equal.
trade can be closed or move sl at break-even (protect and defence the trade from bad-luck).
Reply
(SL level at 46.00 sell stop at 45.00)- trade is still active - sooner or later stop-out can not be avoid (only lucky can save), price break-out and close at 45.5.
Forcus on failures: why do this trade fail?
The AB line is key support line .
Order sell-stop in wrong place - only below 43.5 (stop above descending triangle support) if break below
and few other minor reasons.
So correct trade/best bet is enter at break-out with stop below descending triangle resistance if break above (only bad luck can kill the trade) - better follow text book
snapshot


Note: this chart is for personal study ;)
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