West Texas OilLong
MY TV COMPETITION WTICOUSD LONG IDEA 01/11/2024
Updated
Direction: Long
SL: 66.862
Indicators:
1. MA (20,50,100,200)
2. Trendline - Algo
3. Support and Resistance
4. Fib Level
5. I also use MT5 - Tradingcentral tools
Technical:
1. MA 20 Yellow is below the MA 100 and 200 (Purple and Red) but looking for it to reverse and go up and above the 50,100, and 200.
2. Green Trendline was broken recently.
3. Price bounced off from a support zone.
4. FIB level at 0.382.
5. Tradingcentral tool signaling Rise on Time frames 15m,1h,and 4h but it is bearish and signaling DECLINE on daily time frame at the moment.
Fundamental and economic:
1. Geopolitical tension is adding some volatility to OIL prices.
2. I use Edgefinder tool which shows me a score of -3 "bearish" on USOIL but I think this trade idea is for short term and more of a "I predict that this might go to xyz based on the technical and fundamental insights".
3. We are in Q4 and usually there is alot of volatility mostly bearish but I'm going against it since we have US elections coming up.
SL: 66.862
Indicators:
1. MA (20,50,100,200)
2. Trendline - Algo
3. Support and Resistance
4. Fib Level
5. I also use MT5 - Tradingcentral tools
Technical:
1. MA 20 Yellow is below the MA 100 and 200 (Purple and Red) but looking for it to reverse and go up and above the 50,100, and 200.
2. Green Trendline was broken recently.
3. Price bounced off from a support zone.
4. FIB level at 0.382.
5. Tradingcentral tool signaling Rise on Time frames 15m,1h,and 4h but it is bearish and signaling DECLINE on daily time frame at the moment.
Fundamental and economic:
1. Geopolitical tension is adding some volatility to OIL prices.
2. I use Edgefinder tool which shows me a score of -3 "bearish" on USOIL but I think this trade idea is for short term and more of a "I predict that this might go to xyz based on the technical and fundamental insights".
3. We are in Q4 and usually there is alot of volatility mostly bearish but I'm going against it since we have US elections coming up.
Trade closed manually
After reflecting on this trade, I no longed am interested in continuing this trade so I closed it manually. Note
I also noticed the big downward move. Me no likey.Note
Wew thankfully I was out of it early. 
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