TimStuyts

Crude oil tradeplan

FX:USOIL   Crude Oil (WTI)
243 0 5
6 months ago
I don't think that the consolidation for Crude Oil             is over. Short term I like to see another leg higher as shown on the 15min time frame:
snapshot


However medium term I think we need a leg lower to test 42.50 zone. I will therefore be looking for a buy first (15min time frame), then see whether price breaks out bullish and stay in the trade, or take profit and shift my bias bearish for 42.50.
Once we reach that area we need to determine whether the consolidation is ending or a bearish break might be next.
I will update all three potential steps and trades. However first things first which is in this case a potential buy continuation trade on the 15min time frame.

www.timstuyts.com

www. facebook             .com/timstuyts
6 months ago
Comment: I'm still holding my long for crude oil. We saw the short term bullish continuation I was looking for as shown by means of the 15 min chart. Due to the impulsive character I decided to hold my long for a potential break. I will take 50% profit at the previous high and have a closer look at structure once price hits that level. Stop loss is at break-even.

Related Ideas

TimStuyts
GBPAUD short
TimStuyts about GBPAUD 8 6 months ago
TimStuyts
USDCHF
TimStuyts about USDCHF 6 6 months ago
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out