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Usoiltrade

Crude Oil bit more correction before a big SHORT tradeTVC:USOIL Time frame: 4 hours Trade idea description: Crude Oil have been trading in a multi-days expanding channel, so far it is just few points away testing the top of this channel. Over all trend is bearish and market is in a corrective structure, momentum on higher time frames is bearish as well, so keeping bigger picture in mind, i am waiting for this market to test the top of the channel where I see scope for MACD divergence, and fresh falls to be setting up. Stop and targets are mentioned on the chart. All the follow ups will be posted under the update section. Thank you for your support. Trade safe and good Luck!
FX:USOILShort
by UmarAbdurRehman
1
(20180717) Be careful of inflection points!Hi ~ Traders! It is wemoa of allaboutforex.net. Let me tell you about the market conditions of the July 17th Crude Oil. Crude oil is currently in a trend of upward trend. But the price has been falling since the double-top pattern. Maybe it seems to have fallen due to oversupply concerns. The oil is now standing on a big crossroads. Will the trend be reversed at all or will the upward trend continue? If the price rises again from the upward trend line, it will continue to rise again, but if the price breaks down the trend line, the market price may fall sharply. If you currently trade, it would be wise to enter the sell position Whether you want to switch positions from the trend line or the inflection point of the trend should be watched a little. To find out more information and market conditions Visit www.allaboutforex.net! When you subscribe, you can receive free signals every day. For real-time trading signals, please visit our homepage!
TVC:USOIL
by tony_papa