TradingView
purpurato59
Aug 10, 2016 8:22 PM

Oil was correcting Short

Crude Oil (WTI)FXCM

Description

I was thinking before that we entered a new phase of an upward trend, but it looks more like we're just making a small correction to keep the way down.
Once the price hit 0,23 fib retrace of the channel, it bounced and is now keeping its way down to... a lower low (below 39). The money flow was below 50 in the bear range and now that we hit resistance it bounced together with price.

Trade closed: stop reached

Comment

Fib channel still valid, correction hit 0,5 exactly.
Comments
SupraBoy
Talk about a bad call here. Oil doing a vertical liftoff now.
purpurato59
That's a non constructive comment, it's quite easy to say that afterwards.
I would judge on your published ideas, but you have none.
More