The congestion is clear in H1 chart, the price $64.64 is present Resistance (also, this level is the past Longterm-Support from June 2018 - October 2018, until it was be broken in early November).
In my shortterm trading view, a breakout that above this Resistance will be a good signal for Buying. In this case, putting a stop-loss that below the Rectangular's bottom can be a proper stop.
In my shortterm trading view, a breakout that above this Resistance will be a good signal for Buying. In this case, putting a stop-loss that below the Rectangular's bottom can be a proper stop.
Note
2:00 AM, April 18 2019WTI price is in the congestion (I use the H1 Chart).
In my own opinion, it's a little dangerous for place an order (either Long or Short). I'll waiting until the price reach either Support or Resistant Level for next step.
Trade active
[H1 Chart] April 22nd 2019, 1:30AMA breakout for short-term Bull, and New High has been created from early November 2018.
My Buying-Stop-Order has been actived and The Stop-Loss is below the Old Resistance.
Note
[H1 Chart] April 22nd 2019, 11h45 PMWTI have been reaching New High from early Nov 2018, after creating a small congestion. It's time for my trading system to raise Stop-Loss that beyond 1st Get-In Point and below new Support Level. Also it's time my 2nd position is actived, it's Stop-Loss is the same level with the old Stop-Loss.
Note
I exit all positions due to the price reaach Stop-Loss, and waiting for confirming the next trend.
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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.