USOIL: A Bullish Bat inside of two parallels Channels?
I have opened a short position in Oil after yesterday's try to long a pair.
1. A channel seems to be broken downside. We have 2 options - further falling or retest of a channel (with possible return back into it).
2. You can see old blue parallel channel which has been forming since 2015. That's why I generally very Bullish in Oil.
3. However, the channel was broken downside. If I keep Bearish long-term in Oil, I am not selling now and waiting for retest. But as I overall Bullish oriented I prefer to see this breakthrough as a false one, so that means that price could fall agressively without any interaption.
4. Looking at big picture and a move inside the gold parallel channel we can see that the top of this channel is well combined with the possible top of the blue parallel channel, so I would prefer to think about good enter in possible long movement.
Good trades for everyone!
1. A channel seems to be broken downside. We have 2 options - further falling or retest of a channel (with possible return back into it).
2. You can see old blue parallel channel which has been forming since 2015. That's why I generally very Bullish in Oil.
3. However, the channel was broken downside. If I keep Bearish long-term in Oil, I am not selling now and waiting for retest. But as I overall Bullish oriented I prefer to see this breakthrough as a false one, so that means that price could fall agressively without any interaption.
4. Looking at big picture and a move inside the gold parallel channel we can see that the top of this channel is well combined with the possible top of the blue parallel channel, so I would prefer to think about good enter in possible long movement.
Good trades for everyone!
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The dangerous asset. A rigorous risk management is mandatory.
