It's Oil's Time
Updated
Oil is showing the classic Wyckoff pattern here... I'm expecting the trend to continue into the lower 50s, and then see a minor pullback to begin the flag process around 51.10-51.30. From there we should see a bullish flag, and once it breaks, I'm expecting it to head to 56.7, with 56 being the minimum. TP 1 for a conservative approach would be 51.10, but my TP will be 56.7. Here goes nothin
Note
Have been adding in as this daily candle has dropped; weekly candle looks amazing right now, and where we are closing is not too shabby at allNote
Closed all my positions for now, some in blue, some in red, waiting for daily closeTrade active
forgot to add the active part, but going well so farNote
this TP might be 55 vs. 56.7, depending on the broker feed. I think my broker price is a little higher than some, and a little lower than others. but structure remains the same, and 55 is a safe long term TP. TP 1 almost there (51-51.15 depending on broker)Note
Stops moved to breakeven after the rise. Took profit on scalps, and if longer term ones get stopped out, will look for better entriesNote
SpectacularNote
Tp1 hit, tp2 awaitingTrade closed manually
:)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.