OIL (WTI) - See a Big Rectangular in Shortterm
The congestion is clear in H1 chart, the price $64.64 is present Resistance (also, this level is the past Longterm-Support from June 2018 - October 2018, until it was be broken in early November).
In my shortterm trading view, a breakout that above this Resistance will be a good signal for Buying. In this case, putting a stop-loss that below the Rectangular's bottom can be a proper stop.
In my shortterm trading view, a breakout that above this Resistance will be a good signal for Buying. In this case, putting a stop-loss that below the Rectangular's bottom can be a proper stop.
Trade active:
April 22nd 2019, 1:30AM
A breakout for short-term Bull, and New High has been created from early November 2018.
My Buying-Stop-Order has been actived and The Stop-Loss is below the Old Resistance.
A breakout for short-term Bull, and New High has been created from early November 2018.
My Buying-Stop-Order has been actived and The Stop-Loss is below the Old Resistance.
Comment:
April 22nd 2019, 11h45 PM
WTI have been reaching New High from early Nov 2018, after creating a small congestion. It's time for my trading system to raise Stop-Loss that beyond 1st Get-In Point and below new Support Level. Also it's time my 2nd position is actived, it's Stop-Loss is the same level with the old Stop-Loss.
WTI have been reaching New High from early Nov 2018, after creating a small congestion. It's time for my trading system to raise Stop-Loss that beyond 1st Get-In Point and below new Support Level. Also it's time my 2nd position is actived, it's Stop-Loss is the same level with the old Stop-Loss.
Comment:
I exit all positions due to the price reaach Stop-Loss, and waiting for confirming the next trend.
WTI price is in the congestion (I use the H1 Chart).
In my own opinion, it's a little dangerous for place an order (either Long or Short). I'll waiting until the price reach either Support or Resistant Level for next step.