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tntsunrise
Mar 1, 2016 9:36 AM

USOIL Squezzing (34.25 and Trendline) Short

Crude Oil (WTI)FXCM

Description

USOIL Squezzing
34.25 is the level which
turns from previous support to resistance
Trade Plan 1:
Short usoil based on the strong resistance
If the trend line is broken, the downside will be very big
SL: 32.50, TP: 28.00

Trade Plan 2:
Buy the break out when you see price
close above 34.25 and buy the pull back

Comment

Typo Error, SL is 34.50 not 32.50

Trade active

Yesterday stopped out at 34.50 due to a spike
Now I decide to re-enter the trade
1H chart keep making lower highs, this shows 34.30 is still a valid resistance
Enter at 34.00, SL: 34.70

Comment

Trade closed: stop reached

33.70 HIT, FOLLOW THE PLAN. EXIT TRADE FIRST.

Comment

34.70 HIT
exit first
Comments
tiger_rag
in triangle break down through? seriously?
michael231
bullshit!
ManuFx
you remember me my previous post remember i told you first we touch 1,3360 here we are, now we go up yes to 1,36/1.37. Oil will pull back again to 32 - 31 level,s but on long term its bottomed! this is my verified track record 3 years if someone want more info i,m open to help people as well forex-markets.es/cuentareal-master/ sorry my website not in english but i think everyone understand this, 145% NET profit 36% anual return ( anualized ) 3,5 % monthly, 10,7% max draw down, stop out 15% never reach this level, thanks to all great you tntsunrise!
antoineppedd
What happens now ? Do you think it is gonna come back down or go straight up?
FawadJawed
It seems USOIL has started uptrend.. Trend Line Broken !!

tntsunrise
YES. IF TODAY CLOSE ABOVE 34.60
FawadJawed
Yes it looks like it will be closing above that level.. although Crude oil inventories data was bearish for it !
tbuckle
could be a false break out to end uptrend, lure in the bulls.
tbuckle
could be a false break out to end uptrend, lure in the bulls....for oil
FawadJawed
i dont think so as firstly it was consolidating when it broke the previous trend line on shorter time frame and now this one.. but lets see
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