Sell Crude - Contrary to the emerging Ascending Pattern
This is a trend based analysis of Crude Oil Futures. Price is looking bearish on MLY, WLY, DLY and 4H time frames. Further, an Ascending Triangle pattern is emerging however for the near term future, going short looks more profitable. Going short as the price is close to all time highs and profit booking took place at these high levels previously. This is a bet against the trend. Hence the small stop loss. As the markets are tumbling allover, this may follow the same trend in the coming week (21/06/2021) onward.
Trend lines at different timeframes.
Support - Resistance levels at different timeframes.
Disclaimer: This is shared as an idea and not a recommendation. It is a guesstimate of where the price may be down the line. Please use this for your further analysis and based on your own analysis and risk management initiate trades accordingly. I'm posting this as a means to further improve my knowledge and receive further knowledge from others.
Trend lines at different timeframes.
Support - Resistance levels at different timeframes.
Disclaimer: This is shared as an idea and not a recommendation. It is a guesstimate of where the price may be down the line. Please use this for your further analysis and based on your own analysis and risk management initiate trades accordingly. I'm posting this as a means to further improve my knowledge and receive further knowledge from others.
거래청산: 스탑 닿음:
Stop loss hit. This was always a possibility as this was a trade against the trend.