Crude Looks GooD
Updated
Hi friends, it's a weekly chart of crude as we can see after a long consolidation in parallel channel finally it breakout resistance and gives a close above that, After this breakout if price will sustain above resistance levels with bullish strength we can see 92 to 100 levels in coming sessions.
This is not and trade or investment advice. This idea is meant for learning only.
Best Regards Happy Trading- Amit
This is not and trade or investment advice. This idea is meant for learning only.
Best Regards Happy Trading- Amit
Note
waiting for a retest bounce, or above day close of marked fresh resistance breakoutNote
Price breakout the resistance which i mentioned for fresh trade so now i assume that i will get fresh entry today if close above resistance for new additions too still holding too. i have firm approach for longs after a long consolidation breakoutNote
Yesterday Price gives close above resistance which mentioned as fresh trade resistance and now sustaining very well above so far, breached yestreday's high too, One more a day close above will provide more strength to this breakout and more follow up buyings can come after a long consolidation breakout on weekly chart shared in ideaNote
Seems 5 days consolidation in over, breakout will get more strength if close above fresh resistance. Still it is gaining very goodNote
Yesterday got a close above new resistance mentioned in update above and now sustaining good above and trending up towards target one, Still in good gainsNote
Price it seems in a good momentum making new highs daily after breaking new high resistance mention in chart.Trailing stop loss update- I will trail my stop loss to entry price closing below basis earlier shared in updates, still having good gains but want to sit atleast target one as a disciplined trader
Note
Reached 90.617 from 85.646, gained more then 5% so far. We can see target one in coming week.From the bottom we can see a good buildups of volume and close above a strong resistance.
Weekly chart showing a good buying intact is still remaining.
Note
Traget update- My target one for this trade was 92.535 recahed 92.372 very close to that on 19th september and faced a selling pressure form resistance based target zone, and now seems it got a bounce from support so sharing hourly chart for this trade can touch it's support again. Stop loss revised to cost now fresh entries will take accordingto this updateNote
Bounced from mentioned support zone in update above and now taking same resistance which also mentioned in that update, Breakout entry and bounce entry both gaining great. After mentioned resistance break can do target one very quick matresNote
Almost there mates reaching close to mention target 1, Gained 7.5% so far from breakout entry one more entry i have from support bounce mention in update above. Still i firmly believe that it will do both mention targets on published chart.One resistance marked on chart if close above we can consider it is a fresh breakout and will give more strength to this breakout and will help to move towards target two of idea
Note
Target update-: 92.50 from 85.60Target one mentioned in idea comleted today.
Traget one is a resistance identified from weekly chart so if price will close above that resistance we can see fresh momentum build up in it
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