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menyuken

Bullish Cypher in Oil DAY view

Long
CFDs on Crude Oil (WTI) (FX:USOIL)  
menyuken Updated   
FX:USOIL   CFDs on Crude Oil (WTI)
Cypher
6
0
cypherpattern
There is a potential bullish Cypher in Oil day view, currently the price is near the pattern ending point. On the other hand, bottom divergence is visible in Day view as well, which could give us more hope for the trend switch.

In addition, as Oil has already broken the trend line, in case the pattern could be formed. It could provide a good chance to pull back the trend line. We could open SHORT again at the resistance structure along the trend line according to the kindle reaction.
Comment:
NO entry provided, as price didn't go that deeper. According to the kindle reaction, the rollback is obviously happen in DAY view, and so far TP1 0.318 has been reached already.
My plan is to open LONG at 0.318 retracement, set TP at 0.618 area which covered by the resistance structure. Again, please get ready to open SHORT again soon;)
snapshot
Trade active:
Get ready to take profit at pink lines, AB=CD and 1.618 ext. On the other hand, my plan is to OPEN SHORT from those two places;)
snapshot
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