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Theperfectionist

Trade of the week - Crude Oil's consolidation range

Short
West Texas Oil (OANDA:WTICOUSD)  
Theperfectionist Updated   
OANDA:WTICOUSD   West Texas Oil
Trend Analysis Harmonic Patterns Chart Patterns Energy Commodities Oil Crude Oil WTI USD SELL rejection Bearish Patterns
9
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trendanalysis harmonicpatterns chartpattern energy oil usoil usd sell rejection bearish
Reasons of Placing the Trade:
Overbought RSI with divergence scheming a Supply Level
Volume Increase
Rejections at the same Supply Level with rotations to the nearest demand Level

Setup:
Sell
Stop Loss: 120 pips of length @57.40
Take Profit 1: 460 pips of length @51.60
Reward: 4:1
Comment:
1:1 reward reached.
Trade closed: stop reached

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Theperfectionist
Overall view of WTI Crude Oil - Analysis of August 26th's Week
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