captain_smollett
Long

USOIL. Targeting a rebound and, eventually, a mid-term run

TVC:USOIL   WTI CRUDE OIL
329 14 8
2 months ago
I believe USOIl             will hit 42 ish             next week and that will mark a beginning of a nice bullish run. Eventually, we will not target only 47 ish             which is the TP2 for a Cypher pattern but go beyong 52.

The red line at 52 is a historical trend line which comes from the 90s. As you can see, market watches it closely so it acts as an important separation level between bulls and bears. We keep on bear terrotiry but hopefully, it will start changing next week and be like this for some months in front.

Long entry: 4*0.25 lots at 42.25
SL: 40.50 (below July low)
TP1: 44
TP2: 47

TP3: ???
2 months ago
Comment: Target hasn´t been hit yet, I expect a new and final wave down after this correction ends
2 months ago
Trade active: Long USOIL 2*0.25 lots. SL: 40,40 TP1: 44. TP2: 47
2 months ago
Comment: Already 1% up, long moved to breakeven
2 months ago
Comment: Posting below amended targets for the pattern, with TP1 already hit
2 months ago
Trade closed: target reached: TP2 hit. It can go higher but I´m completely fine with this profit
snapshot


Massive Red Trendline
Reply
tankbell
2 months ago
You and Phil Flynn are the only 2 pound the table bulls I follow. So much negative you parse away with your charts.. Sorry don't think it;l lwork to see a break above 55 this year....
+1 Reply
captain_smollett PRO tankbell
2 months ago
Thank you for your comment, Sir!

Actually, now I feel a little more secure about my idea: when there is only 20% of Bulls and 80% of Bears, you know what happens next =)
Reply
htgroup1
2 months ago
Agree with your analysis - excellent chart work. Adding to my shorts today targeting 43.
+1 Reply
htgroup1 htgroup1
2 months ago
Then switching to longs based on RSI moving above 30 for the impulse wave. Thanks for sharing your analysis.
+1 Reply
captain_smollett PRO htgroup1
2 months ago
You are very welcome, Sir! Thanks to you as well for your comment and sharing your point of view with us =)
Reply
htgroup1
2 months ago
I may be a bit early on this, but shorted OIL via DWTI today at 2:30 after DWTI kept support at its 61.8 retracement. Didn't go all-in but wanted to initiate a position based on the RSI and Stoch on the 15 min.
+1 Reply
Smollet
2 months ago
I hope price will not go to 42 :)
+1 Reply
htgroup1
2 months ago
Excellent Call... Also flipped my shorts to longs.
+1 Reply
captain_smollett PRO htgroup1
2 months ago
@htgroup1, thank you, Sir! Lets see how far it can go
Reply
snapshot


Amended targets for the pattern: TP1 = 45.90 (hit) hit and TP2 at 48 ish
Reply
Smollet
2 months ago
Good job
+1 Reply
Smollet
2 months ago
Hi Captain! What do you think about this idea?
Лонг для тех кто не успел сесть в поезд. Это ралли
Reply
captain_smollett PRO Smollet
2 months ago
@Smollet, Hello Captain! =) It could make sense, specially if USD pushes back a little bit. Looks like we will close on HOD today, so there appear to be people who want to buy this
+1 Reply
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