USOIL - 1H - Consolidation starting with this Bat

26 ก.พ. 2016

yesterday i posted a similar chart, wanting to buy oil after the break of the significant blue solid trendline. but i did want to see some consolidation first. shorty after we had a massiv spike up. my goal is the same tho, waiting for consoldidation to buy. while we are waiting, im looking at this bat as the start of it all. i dont wanna trade it plain, because too much upside momentum in the market. but maybe if we can see some confirmation im looking to sell.
i post this, so u know whats goin on, and so i can have a place to post 5min charts (which i cant post as ideas) so if ur interested in selling this. keep an eye on updates.

old idea is in the related ideas for a bit bigger view on things

26 ก.พ. 2016

บันทึก

Trade is setting up.

26 ก.พ. 2016

บันทึก

Target setup:
TG1 382 Bat
TG2 618 CD
TG3 Full move down to see the anticipated consolidation range

26 ก.พ. 2016

ออร์เดอร์ถูกยกเลิก

spiked higher from the consolidation, orders canceled. this might morph into a ABCD upward flag. so look out for that. i will keep you updated.