- Crude oil has fallen badly for a few days.
- Based on demand and supply - marked dot-to-dot levels
- Today crude has been bullish
- A morning star pattern has been formed, and there is confirmation
- Entered during fib retracement.
- I'll be trailing at 5980 and SL at 5910.
- Current level 5940 is crucial, and we can expect a good up move if bullishness continues.
NOTE: This is a contrary trade with a significant risk. This is not a tip but my view of crude.
Trade active
Comment:
Added a few more longs.
Comment:
An uptrend angle of 22 deg is formed. 5960 is an important level that has to be broken
Comment:
If my analysis is right, 5960 will be broken anytime soon
Comment:
Trailing SL to 5920. Higher lows formation is being witnessed
Trade closed: stop reached
Comment:
View might be correct but it is important to accept the stop loss