newbie2016
Short

Oil at Risk to crack down..!!!!!

FX:USOIL   Crude Oil (WTI)
877 9 24
Details on chart.
Comment: 4hr Oil Chart.

snapshot
Comment: Break of $40 with clearing $40.5 would be bullish..
Comment: Oil is getting hammer and daily close below 37.9 is required for more bearish action towards 32 and below.

Only close above 40.5 would be bullish.
Comment: Oil with usdcad... Simple Chart.

snapshot
Comment: Seasonal trend of oil is still bullish but Fundamentals and Technicals hammering oil down.
Oil closed daily below 37.9 and now in control of sellers.

Break of 35.87 will drag it towards 34 and 32.
Comment: Possible Head & Shoulder Pattern..?????

US OIL Possible H&S Pattern Formation in Process..??????
tp and st
Reply
newbie2016 AhmedKhalilChahin
My short entry was 42.5.. but oil never reached it and I didnt manage it cuz i was messed up with currencies :) but I will post trade setup for oil.. waiting for this daily candle close. Tomorrow is month end.. so good volatile moves are expected.
Reply
THANKS
Reply
newbie2016 AhmedKhalilChahin
Oil posted 4hr bearish grabber.. so entry can be in between 38.5 and 38.9 with stop above 40 for more safety or can be place little above last 4hr bearish grabber candle.
Reply
SELL 38.5 OR 38.9

SP /40

TP/ 29
Reply
newbie2016 AhmedKhalilChahin
I prefer stop 40.5 and 1st tp towards 36 then 32 and below..
Reply
OK THANKS
Reply
newbie2016 AhmedKhalilChahin
your welcome.. and good luck!
Reply
newbie2016 AhmedKhalilChahin
I will not be selling oil now.. bcuz it took downside before hitting entry point so now i will wait for daily and monthly candle close.
Reply
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