Crudeoilwti
Catch the falling knife.Vertical big bad scary red candle upon eia. Broke both TL and Wedge, which we are currently crawling back into. Now, i am taking a risky position here (falling knives not meant to be caught). But i am counting on profit taking into weekend and some realism plus this upsloping median set which 'cuts' very nicely. Not risking much here just small portion of this weeks gains. If you are thinking about following please maintain rigid stop loss :)
looking for possible long hereWe are still following the downsloper but coming up on three major supports: the uptrendline from the rally going back to january, the lower TL of the big falling wedge and the horizontal support off the 45.80 area). Also price action is becoming wedge-like and squishy. If we bounce back and retest i might become a buyer here. Prerequisite would be a zoom and succesfull retest of the (small) falling wedge upper TL.
gauging price action there may be a trade hereAfter reaching the median price can continue or reverse. I will monitor carefully to see if i can enter with favorable position and R2R
follow up on earlier posted short tradewe are following a downsloping median set with a median parallel to earlier mentioned mult pivot line (which got zoomed friday and is due for a retest). Because we are following the downsloper nicely i would move stop to BE and adjust target for downsloping angle of target line
Crude Oil waiting for rebound to $50 for a Shark ShortHave been monitoring crude oil.
I see a shark pattern completing at $50.
Will monitor RSI for overbought condition before executing short at $50.
Let's monitor this together.
