USOIL - 1h - Double top at Resistance (+ daily pinbar)

14 Nis 2016

USOIl retesting resistance at prior structure. we double topped (which was also a pinbar on the daily timeframe) and confirmed the double top by breaking blow the neckline as well as the trendline. nowe we are currently retesting recent structure (deeply). i sold the 50% retracment. you can also look for reversal signals on a 5-15m timeframe if you like. im just sharing the overall setup.

14 Nis 2016

Not

here the daily timeframe for reference

14 Nis 2016

Not

if you want confirmation you can look at this trendline breakout on the 1m. yeah i know its a 1 minute is way to shortterm- but its only to find a good entry. and if we can confirm this setup we likly go lower from here. which could be the start of it all.

15 Nis 2016

Not

took some profits and now lets see where we can go from here.
a retest of the 35-36 can be possible if we can see some followthrough the next days/weeks. i will just see how much downmomentum there is and base my decission on that.

but (when nothing drastic happens today) we will have the second weekly pinbar at recent restistance. so we can maybe go down to 30 or even into trendcontinuation mode from here - its not impossible