#USOIL: SHORT the top and reach the bottom

FX:USOIL   CFDs on Crude Oil (WTI)
Opportunity of SHORT on top with momentum.
Will see what it brings.

Oil is going to make a major move very soon, however, it is extremely challenging to place a probability based on technicals right now - too much contradiction in possibilities. At this point, a close above $55 or below $50 is the green light for direction.
Why is it so ”challenging”?

MisterTrader AristotelCostel
Ok I see better now, thanks for your valuable input !
+1 Reply
MisterTrader MisterTrader
I will remind myself to keep an eye on Weekly chart as well. I stopped doing that since my screen is not big enought to show 2 graphs :)
MisterTrader MisterTrader
My SL should be far enough to absorb the potential bullish wave to the weekly high
+1 Reply
I think it won't fall that far ( short-term ), crude oil is now being squezed in a bullish triangle. A drop below that could become absolutely bearish, and a rise above it again bullish. I can also see that the pattern is being repeated.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
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