CheeseManTrader
Short

Head and Shoulders forming on the D1 WTI

FX:USOIL   Crude Oil (WTI)
Looks like head and shoulders forming on the D1 chart WTI Crude. If we successfully see the 2nd shoulder form, I will take a short trade down 280 ish             pips below the neckline. (Same number of pips from the 1st shoulder to the head).
This is my first published idea / chart. Please comment thoughts.
LeonardoD
11 months ago
I think that the figure (head and shoulders) is too many large compared to the size of the trend. I think that is not a valid signal of inversion. Good luck.
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CheeseManTrader LeonardoD
11 months ago
I agree, I am already holding some short positions - but wouldn't react or open any new positions until the 2nd shoulder formed. Let's say this is more of a potential prediction, as the fundamentals don't support price this bullish. There is bullish upside to 47.20 area as well, I am cautious. If today's candle stays bearish and closes below 43.55, then we can look a bit further to the downside.
Thanks for your comments.
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