West Texas OilPanjang
WTI : Long on oil will be the best bet during 2019
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Hello Traders,
Price action on WTI chart is showing that sellers are being careful at the level of 40$, what can give the opportunity for early buyers to build their positions.
We do not have a strong buy singal, but in the same time the behavior of the price action is telling that reversal is being steup.
It is a risky trade, because i'm looking to trade against the trend but the way i identify patterns on chart is my edge over the institutional trading firms and market maker.
With right the risk management this trade can bring big rewards.
Trade with care
This for educational purpose only, not an investment advice.
Best Regards
Price action on WTI chart is showing that sellers are being careful at the level of 40$, what can give the opportunity for early buyers to build their positions.
We do not have a strong buy singal, but in the same time the behavior of the price action is telling that reversal is being steup.
It is a risky trade, because i'm looking to trade against the trend but the way i identify patterns on chart is my edge over the institutional trading firms and market maker.
With right the risk management this trade can bring big rewards.
Trade with care
This for educational purpose only, not an investment advice.
Best Regards
Nota
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There is a strong correlation between WTI chart and the stocks price of the Royal Dutch SHELL as you can see on this monthly chart.Nota
By going to lower time frame, i can identify that the stock price is trending is a reversal pattern, which mean that sellers are losing ground for buyers to build their positions.Nota
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Watch for correction befor entry.Nota
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