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Crude-oil

Short Trade Crude Oil - 4hr Double Top and 61.8 Retracement. Market Conditions: Downtrending market. Long bearish move without any real pullbacks before now. Double top + daily spinning top at 61.8 retracement. Stops and Targets Stops at 44.99 above the 78.6 retracement. Target at 37.45 - just shy of the 1.27 extension. Let's see how this plays out - this is my first "public" idea here at Tradingview and yes, I know we have news this afternoon. Remember it is just my personal view.
FX:USOILShort
by UnknownUnicorn206897
Crude oil big drop comingThis is the top because the final push provided liquidity for the large institutions above an obvious resistance level. They turned the sellers at resistance into buyers on that final leg up. I was selling at that level too, but got stopped out before that big push up. They quickly dropped prices back below that resistance level so those same sellers will have to chase it back down because they were right in the first place. I know because I experience this and also shorted below the pit close level. I think price will drop back down to that red level and bounce back up to form the right shoulder of a large H&S pattern. Price will most likely make new lows as the big players will keep pushing. This little rally was just a stop hunt for the guys who shorted on a monthly break below last month's low. My long term target is $20 and expect to reach that level by the end of this year.
NYMEX:CL1!Short
by EliteTrader101