Huge Long Crude Oil Opportunity

Crude oil is very close to hitting a major trendline and strong support is expected there. Market is in clear consolidation mode as the MacD is stabilizing at centre. Besides this I can be certain that OPEC (as well as some non-opec members) won't allow this to persist for longer because the price is substantially below their objective. And finally the USD has been quite bearish recently, and if this trend continues then it will aid in supporting oil and gold prices.

---------------------------------

Entry: 47.04
TP: 51.40
SL: 46.14

Risk/Reward (RRR) = 4.89

تم فتح الصفقة:

Here we go

تعليق:

Good entry so far

تعليق:

Took some profits. Now will wait for pullback to add what I have taken off the table. sit tight

تعليق:

Expecting retrace, then continuation up will add long later

تعليق:

pulled back nicely from that harmonic, expecting bounce off 47.88 - 47.90

تعليق:

Bounced earlier than expected now continued move upwards, test the dynamic resistance (triangle), strong resistance is expected here so small pullback is the most likely scenario, followed by a breakout, watch for increasing volume while breaking out

تعليق:

As promised, we got our pullback, followed by a continuation from 48.38 which was in line with expectations and now we have broken out of the major consolidation area. Now expecting markets to calm a little. Possibly retest of the new support (blue line) tomorrow before we go any further.

تعليق:

broke $50

تعليق:

It seems we are forming another bullish flag now, if somehow it failed and drops it could be a healthy pullback and find support at 49.6 area but it goes any further, any lower would be probably be a deeper correction

تم إغلاق الصفقة يدويًا:

target too optimistic for now it seems as strong negative divergence is print. Close

أغلقت الصفقة: تم الوصول للهدف

أغلقت الصفقة: تم الوصول للهدف:

actual target reached