SergeantPringles
Long

USOIL - 15m - Shark for a bit of a correction

FX:USOIL   Crude Oil (WTI)
294 3 11
I expect a bit of a reversal or rather correction in the current downward spike in oil             now based on this sharkpattern completion. We already saw a bit of a rally out if the PRZ but are falling down now. if we can somwhat hold the daily lows forming a double bottom , i will be looking to buy if we can take the recent swing highs. if we however make siginifcant new lows for the day i will cancel my orders.

if we indeed finish this trade i will be looking for shorts again at my TG2 zone expecting another impulse to the downside
Trade active
Trade closed: stop reached
Comment: tho being stop out, the setup is not destroyed yet. the PRZ of the shark still has room till the 1.13 extention so we will have a chance. also now with a decent trendline in place we can have further confirmation for the next potential buy. but that would require the market to break the trendline to the upside and give us some sort of consolidation.

snapshot
Comment: it happend as expected and due to better risk reward than on the original idea im already good in the profit for oil today even after the earlier loss. targets ofc stayed the same so i already took half off. now looking for the continuation.

i posted how i wanted to enter but since the place of the consolidation was abit lower im still showcasing this again in an updated version
snapshot
Trade closed: target reached: tg2 reached as well. now im looking for signals that the market might continue lower for the moment anway, to get short again
A bright analysis eventhough initialy you could not bank on it.! Well done dude !!
Reply
waterman waterman
I too expected the price to fall further down negating shark by seeing the coiling of prices!!
Reply
thanks!
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