The 1. Chapter of WTI.Oil - Highly flammable

Two scenarios. One Long. One Short.


Fundamentals:
-


Scenario 1 (Orange arrow)

Target: Next resistance level (upper red rectangle ). Recent swing top.

Requirments:
- Monthly close above the orange rectangle.
- Higher swings above it

Invalidation / SL:
- Fall under orange rectangle AND generating lower swings.

Time duration: days, weeks, months, years... ;)


Scenario 2 (blue arrow)

Target: Next support level


Requirments:
- break under orange rectangle
- break under 50% fib

Invalidation / SL:
- Break above orange rectangle
- No Break under 50% Fib

Time duration: days, weeks, months, years... ;)


Good luck

Order cancelled:

While price moved to my target (Scenario 2) missed the trade