captain_smollett
Long

USOIL. Using a bullish momentum

FX:USOIL   Crude Oil (WTI)
After a huge bearish trend which took days to develop, looks like yesterday we entered into a short-term bullish momentum.

If confirmed, it should be completed between today and next Tuesday. Will open a long position at 40.31 which is a 50% Fibo retrace from yesterday´s movement. TP: 44.50, SL: 39.50.

This movement was a part of my longer term EW setup. Therefore, if this bullish movement happens, I will post this long term trading setup.
Trade active: Advancing well. Looking to add long at the nesrest dip
Trade active: All longs to breakeven. Growing USD has never been good for commodities
Comment: It is quite clear now that the bullish impulse we´ve lived since a couple of days ago is not a definitive reversal on oil.

W1 and W3 are zig-zags, therefore it is a correction. Will try to post a longer term movement on a weekend. For now, I keep my only left long at breakeven.

Will add long only if I see a sharp movement up
Trade closed: target reached: Target reached but the movement wasn´t a clear 1-2-3-4-5 movement, there were plenty of zizags which mean a correction rather than a start of a new trend.

Still expect oil a little higher, then one more leg down
clear
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snapshot


Oil breaking the bullish flag. Expecting a retrace and then will go long
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