Trading_Off_The_Charts
Long

closed shorts, monitoring bullish 3 drives pattern on oil

TVC:USOIL   CFDs on WTI Crude Oil
bullish 3 drives pattern setting up on oil target $61.81 closed shorts. Would like to get an entry around $59.90ish or $60.02
Mar 08
Comment: 15min triangle I referenced on 2hr time frame
Mar 08
Comment:
Mar 08
Comment:
Mar 09
Comment: there will be a push to breach the neckline on oil Head and shoulders pattern which is $59.50. However, the .236 fib level is also there at $59.42
Mar 09
Comment: I'm anticipating a push down on the 2hr time period to test and temp. breach the neckline which is around $59.50, however in the above chart the .236 is also near at $59.42. From there I expect a re-test of the Pivot Point, then follow by another Downtrend. Basically a Giant desc. Triangle
Mar 09
Comment:
Mar 09
Comment: Will look to stay short on oil, if the AD breaks the green Dotted line or if price action breaks purple dotted line
Mar 09
Comment: The AD doesn't run on TV daily or weekly charts. However it is visible on the QM's crude oil mini futures.
Mar 09
Comment: bearish divergence AD doesnt match up w/ price action
Mar 09
Comment: currently waiting to see if the handle fails, likely retest of .618 fib, break of that invalidates the handle, and will set off a test of the bearish head and shoulders pattern imho.
Mar 09
Comment: overbought in a lot of lower time frames
Mar 09
Comment: downward projectory for today expected downward projector to continue
Mar 09
Comment: at least what im anticipating before going long
Mar 09
Comment: I can count waves too, notice the above pattern didnt have the wave count on the chart before it was posted
Mar 09
Comment: looks like a 15min bear flag is forming
Mar 09
Comment:
Mar 09
Comment: Added short here at $61.80
Mar 09
Comment:
Mar 09
Comment: bearish divergence oon 3min, AD not matching that ascending triangle
Mar 09
Comment:
Mar 12
Trade closed manually
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