WTI paints some impressive bullish signals on Heffae Clouds + QuantRsi longer timeframes. The idea of this trade is driven purely by technicals, I am not in the loop on fundamentals whatsoever.
Daily chart shows inverse HnS on the QuantRsi as well as a new trend developing that shows upside potential:
As warning, The last time Qrsi ran -7 on the 3Day QRsi, there was a small bounce, but there was significant continuation to the downside.
Compared to our current levels, the potential for a further slide is possible:
Regardless of this, I think a long trade has decent risk / reward as long as best practices are used when setting stops and take-profit.
Trade closed: target reached
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Took some profit from this trade at $49. Still have 1/3 of position open hoping for $51-52
Trade closed: target reached
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I'm fully out at 51.xx
I do not currently have plans to buy a pullback. I will continue looking for setups, but I expect a pullback and consolidation for the near future.
Comment
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Perfect trade close on the bottom of 12H cloud, as well as QRsi Trend Resistance
maybe rebuy at your yellow/.618 zone? #heffaeclouds
jthrasher
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smashed through aformentioned 4hr and is in 5th gear. Great call here my dude, took some profit and letting a lil' ride as well tradingview.com/x/vdBxkRTu/. Looking to get back in on a correction. update us if your toys tell you anything. Cheers
jthrasher
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trying to breach this 4hr rsi level it hasn't broken going back to October and popping up out of descending channel. Don't wanna jinx us but I think it may have found a bottom.
jthrasher
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still in a strong downtrend but looking hopeful. GL