WTI is Setting up for Another Rally

USOIL has gone through a bullish impulse wave due to OPEC's meetings.
The news but the price has failed to "sell the news".

It has formed a potential Elliott triangle correction.

The Plan:

I will take 50% of my profit on the first target point as shown in the chart and move the stop of the other 50% into the breakeven (entry point).
The other 50% is for getting to the higher target.

ความคิดเห็น:

We are hitting the top of the triangle, we will likely see resistance here

ความคิดเห็น:

We have broken the top of the triangle. At this stage, I am moving my top to the Break Even point.

We want to see the price hold and consolidate above the triangle.

ความคิดเห็น:

The trade looks healthy, we have continuation of the breakout.
We are stalling at 60 as it is a good psychological resistance.

Remember to move your stops to breakeven. Protect your money.

ความคิดเห็น:

Manually selling 50% of the position here at USOIL = 61.68, take profits.

Happy trading all.

ความคิดเห็น:

Closing the rest of the position. I'm not liking the price action and the rising wedge.
We made great profits. Happy Trading all.