SergeantPringles
Short

USOIL - 1h - Double top at Resistance (+ daily pinbar)

FX:USOIL   Crude Oil (WTI)
USOIl             retesting resistance at prior structure. we double topped (which was also a pinbar on the daily timeframe ) and confirmed the double top by breaking blow the neckline as well as the trendline . nowe we are currently retesting recent structure (deeply). i sold the 50% retracment. you can also look for reversal signals on a 5-15m timeframe if you like. im just sharing the overall setup.
Comment: here the daily timeframe for reference
snapshot
Comment: if you want confirmation you can look at this trendline breakout on the 1m. yeah i know its a 1 minute is way to shortterm- but its only to find a good entry. and if we can confirm this setup we likly go lower from here. which could be the start of it all.
snapshot
Comment: took some profits and now lets see where we can go from here.
a retest of the 35-36 can be possible if we can see some followthrough the next days/weeks. i will just see how much downmomentum there is and base my decission on that.

but (when nothing drastic happens today) we will have the second weekly pinbar at recent restistance. so we can maybe go down to 30 or even into trendcontinuation mode from here - its not impossible
snapshot
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out