TradingView
Technician
Mar 24, 2015 11:47 PM

USOIL: Short at Potential Resistance Short

Crude Oil (WTI)FXCM

Description

Update: Trade is active

I shorted WTI crude few hours ago

-Three-drives pattern
-Major horizontal resistance
-50-days Simple moving average
-Overall trend remains bearish

Be one of the first members of my new trading portal, check my new website thefxchannel.com/ , vote and subscribe. Thank you

Trading Criteria:
1.Trades are taken in two units
2.First unit would be closed at first target
3.Stop loss is then moved to break-even
4.Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached without triggering entry I cancel the trade
6) If 90 percent of first target is reached I move stop loss to breakeven.
7) Remember: Losing is a main part of the game
------------------------------------------------------------------------------------------------------------------------------------------------------------
twitter.com/thefxchannel
facebook.com/thefxchannel
plus.google.com/+Thefxchannel0
My best regards
Technician
Comments
QuantitativeExhaustion
I thought US Dollar coming down from recent uptrend would help Oil.
QuantitativeExhaustion


Does not want to give up pattern
Technician
Yes mate, so far no bullish breakout. So I am still in the game
QuantitativeExhaustion
I'm getting closer to taking a small capital big risk play. USO 16.5 weekly
GumerShafigulin
Are you waiting for the moment to short oil with a big leverage?
QuantitativeExhaustion
yes, that's the plan
GumerShafigulin
You trade US oil fund? Stock, options Or smthg else?
GumerShafigulin
So far I am. I haven' closed my negative position yet.
QuantitativeExhaustion


Also DC still connected to upperband
QuantitativeExhaustion


Well glad I waited for signals
More