Technician
Long

Oil Short term Bottom!

FX:USOIL   Crude Oil (WTI)
910 13 9
Update: closed trade at 100, 40 pip loss.
Profit(pips)=-80.

I Bought WTI Crude Oil             on a break above the key confluence resistance levels near 100.40, price has broken that resistance then retraced to retest it , provided me with a good entry point in terms or risk-reward. Am long at 100.40, target one at 101.30, target two at 102.10, with a stop at 99.70
Bullish Argument: Breakout above the resistance of the falling channel + Completion of a double bottom formation + Bullish divergence on RSI momentum .

Note: I initiate trades on oil             through futures not CFDs, I use CFDs here as an illustration of the trade because tradingview doesn't provide intraday time-frames for futures yet.( That means, pricing me be slightly different)

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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game ;)
If you dont want to miss any trade and see all the trades live, fully transparent. Join my FREE channel here https://telegram.me/technician_forex_trades
DeleteThis
2 years ago
I see it bitly different. But lets wait for the triangle break out.
USOIL Triangle Being Made
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forex91
2 years ago
your SL is hit
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Technician TOP forex91
2 years ago
Yeah here stopped out, but my position is still running at my trading platform, low was at 99.71!!!
Reply
Technician TOP Technician
2 years ago
I trade WTI Futures, not CFDs, actually the lowest price recorded at different brokers was 99.71 today. I use CFDs here as an illustration of the trade because tradingview doesn't provide intraday time-frames for futures yet.
Reply
forex91 Technician
2 years ago
in FXCM trading platform 99.70 was the lowest price but you are right there is some brokers different price between their platforms , but as over are situation is bearish because oil hit and broke BB lower Band and ichimoko too , down weekly pivot point and Daily time frame just above the S1 level . may be after sunday price go down to 98.38 which is weekly S1 level.
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forex91 forex91
2 years ago
in 2 hour time frame ( BB & ichimoko )
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DeleteThis forex91
2 years ago
History is repeating...
USOIL repeating itself!
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Technician TOP forex91
2 years ago
Bullish chances have decreased, yeah I agree.
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Update: closed trade at 100, 40 pips loss.
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Technician TOP Technician
2 years ago
Profit(pips)=-80.
Reply
Target was hit! Unfortunately after closing it, emotions continue to sneak .....
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Luis GuillermoRomero Technician
2 years ago
I kept it and I closed won 60 pips, thank you.
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Technician TOP Luis GuillermoRomero
2 years ago
My pleasure
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