Short

Double top in Crude Oil - Bears in charge now

Updated

We just saw a double top pattern in WTI which is signaling a downtrend in Crude Oil. We are shorting it now looking for a 64 as first stop our final target is around 55.
Keep in mind that a break on 66 or 64 may be the start of a large move.

Good look

Trade active

Short from 66.20

Note

SL at 67.18 just above the top. Will be chasing down this baby.

Note

Took partial profits, let's wait some more and seek for RESHORT opportunities.

Note

We entered a reshort from 64.30, now taking partial profits at 63.00
Expecting to see a lower move but I want to to see a retest and then enter another short.

Trade closed manually

Enough of shorts, let's aim for 80!

Trade active

After the weekend, we analyzed and determined a SHORT was worth it. Short from 67.05, winning so far.

Order cancelled

Will follow up on our most recent idea.

TraderOfSwag

Also on:

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.