SergeantPringles
Short

USOIL - 1H - Consolidation starting with this Bat

FX:USOIL   Crude Oil (WTI)
468 10 11
yesterday i posted a similar chart, wanting to buy oil             after the break of the significant blue solid trendline . but i did want to see some consolidation first. shorty after we had a massiv spike up. my goal is the same tho, waiting for consoldidation to buy. while we are waiting, im looking at this bat as the start of it all. i dont wanna trade it plain, because too much upside momentum in the market. but maybe if we can see some confirmation im looking to sell.
i post this, so u know whats goin on, and so i can have a place to post 5min charts (which i cant post as ideas) so if ur             interested in selling this. keep an eye on updates.

old idea is in the related ideas for a bit bigger view on things
Comment: Trade is setting up.

snapshot
Comment: Target setup:
TG1 382 Bat
TG2 618 CD
TG3 Full move down to see the anticipated consolidation range
snapshot
Order cancelled: spiked higher from the consolidation, orders canceled. this might morph into a ABCD upward flag. so look out for that. i will keep you updated.
is it possible a H&SH on way !!
Reply
yup, my overall look is bullish too. not nessesary for the same reason(check out related ideas) but still. im just currently looking to "scalp" (if you will) down the possible consolidation im hoping for. tho im not buyin they break like you seem to plan (if we dont see the consolidation first) i will still be looking for longs afterwards nonetheless
thanks for posting
+1 Reply
qais SergeantPringles
yes me too, im not thinking it will break the high today, so a down break is possible
Reply
well the market is tryin to prove us wrong currently ;)
+1 Reply
qais SergeantPringles
OMG !!! so you can consider my first intuation is right :P
+1 Reply
nah, that doesnt count, you revoked that. we were both wrong. HA :P
+1 Reply
qais SergeantPringles
lol agreed dude lets think of going long
Reply
yeah, i m looking at this potential flag. but we need one more downwave to confirm that. if it just spikes from here, i think i might not find an entry (yet)
snapshot
+1 Reply
qais SergeantPringles
its a clear flag, yea you should wait for the downmove for going long. but i started thinkng about long-run position in USDCAD man it has broke the trend line and its affected by USOIL
Reply
already broke out. just cant hop on this damn thing :( ;)
+1 Reply
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