Short on crude oil
Updated
WTI shows a pattern that usually has a negative outcome this way, however it broke out on the upside but i think it will fall back in creating a false move. When it falls below 51,60 i will go short with very much confidence! As i am writing this it is making the pullback and testing the outbreak so we are getting close now.
A few weeks ago Brent crude made a similar pattern but instead of breaking it downwards it accellerated to the upside! I got pushed out extremly fast that time :(
The commodities market works a bit different than other markets, especially with certain patterns (the patterns short term are rarely textbook but with some experience you can recognize them . So some caution is always neccesary!
This is a short term trade for me, i am extremely bullish on the long term, but this trade could be a great opportunity. Good luck
Entry when it drops below 51,60
Stop at 52,20
Target 49,20
A few weeks ago Brent crude made a similar pattern but instead of breaking it downwards it accellerated to the upside! I got pushed out extremly fast that time :(
The commodities market works a bit different than other markets, especially with certain patterns (the patterns short term are rarely textbook but with some experience you can recognize them . So some caution is always neccesary!
This is a short term trade for me, i am extremely bullish on the long term, but this trade could be a great opportunity. Good luck
Entry when it drops below 51,60
Stop at 52,20
Target 49,20
Note
I am short now on 51,95stop on 52,30
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