arif_awan
Short

This time Oil will break rising wedge to fall sharply!!!

FX:USOIL   Crude Oil (WTI)
881 14 22
Holding above Usdcad             is clear signal oil             will soon drop!!!
Comment: there is bullish divergence in overall trend on USD against other currencies, so USD will go further up... don't panic you will be profitable.
Comment: MACD crossed in H1...tomorrow gonna be big bearish impulse.usdcad is ready to fly after retesting broken structure.
Comment:
snapshot
Comment: after daily red candle from this level definitely pointing bearish move,
Comment: Wohooooooo :)
Comment: i am still expecting the same ,,,, it could be fake breakout and spike at the end.
Comment: daily pin bar is coming after tomorrow's closing.
Comment: well well well, as I updated yesterday, daily pin on today's closing, what else you need to be short on this.
Comment: what a fight!! wedge is getting narrow for breakout and sharp sell off.
Comment:
snapshot
Comment: hahaha, come on oil.
Comment: one more down move will break this wedge .
Comment: finally wedge is broken, next week will be possible red candles on the way.
Comment: ready for secondary short.
Comment: target is almost there.
Nice short idea on this! I am also looking to get short very soon :)
Reply
thank you luke. really appreciated your feedback.
Reply
how can you know that guys ? dollar index is streghtening and oil still rising on supply deficit
Reply
arif_awan andrej123456
and canadian dollar is droping too,,, soon oil will drop sharply ,,, its just a bull trap. i don't really know dollar index relationship with oil prices.
Reply
andrej123456 arif_awan
I think USD / CAD was going down I think because dollar index was going down, now dollar index is going up, and i think will keep it up so USD/CAD will be rising as long as dollar index will be rising. If only market was involved in the crude oil price creation it would not dropped under 45 USD per barrel. http://www.bbc.com/news/business-29643612 old article, but doesnt miss the REAL point of this.
Reply
arif_awan andrej123456
there is bullish divergence in overall trend on USD against other currencies, so USD will go further up... don't panic you will be profitable.
Reply
I think maximum drop will be about 45$.
+1 Reply
arif_awan Josef2016
yea lets see,,,,this is important area,,, if price start droping it could fall more.
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What is the time frame on this chart? daily?
Reply
Yep. D for Daily :) (see the grayed out background text)
Cheers
Reply
arif_awan martinlhansen78
thanks martin for clarifying.
Reply
beautiful :)
Reply
arif_awan TRADER727
thank you trader, hope you had good trading week.
Reply
could be false breakout on old chart, but this could be true story.
snapshot
Reply
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