Oil price is forming a symmetrical triangle pattern. The target is arround 72$, the stoploss is a little below the triangle. Overall risk reward ratio is 4.5
When everyone expect a bullish market and there's a slight dip, lot of people get margin call/close their long position, causing a massive sell off and thus, an even deeper dip.
Hey you, if you a reading this, take in account I draw this funny colored chart when I was drunk. If you listen to a drunkard advice, well it's all your fault for losing money.
So I opened a short @ 11.119$.
Stop loss @11.450$ so i won't lose everything.
Take profit should be... mmmmh let's say 9.200$
Leverage x2.5
Yesterday I thought it would be a bullish trend. But I saw there isn't enough volume + forming a raising wedge.
I already closed my long position and shorted BTC when it was @11 211$
Expect it to reach a very low price. Anyway I'm not giving any trading advice, just sharing my thought.
So basically I'm saying bullshit. Don't mind my idea.
I was completely drunk when I draw this chart. I haven't even finished a book about T.A yet and if you listen to my idea, you a probably a moron.
But from my point of view, seem legit.
