Yes, it's all over the news that OPEC has agreed to cut production by 1.2 million barrels a day by January, will it be short lived?
WTI has increased more than $4 since yesterday, and I see a potential bearish bat pattern forming.
PRZ is around the daily resistance level at $51 to $52.
Good R:R at 3.6 (TP1) and 19.7 (TP2).
WTI will probably continue to rise gradually.
Do take note of the bullish ascending triangle as well, to go long if resistance is broken.
I will update when price nears resistance.
WTI has increased more than $4 since yesterday, and I see a potential bearish bat pattern forming.
PRZ is around the daily resistance level at $51 to $52.
Good R:R at 3.6 (TP1) and 19.7 (TP2).
WTI will probably continue to rise gradually.
Do take note of the bullish ascending triangle as well, to go long if resistance is broken.
I will update when price nears resistance.
Trade ativo:
Not sure why my broker's price for WTI is slightly lower, it did not close above PRZ or SL price on my chart.
Pattern has completed and showed retracement, I have shorted at 51.5 last night.
Pattern has completed and showed retracement, I have shorted at 51.5 last night.
Trade fechado manualmente:
In view of Bank of Canada's interest rate decision in 1 hour's time, I have decided to close my position at $50.25 with 125 pips profit.