Rising Wedge on OILUSD + other signals

OIL has formed a neat rising wedge. Statistically there could be a downside breakout happening and the price could fall as much as 82% of the wedge's height. Additional signs supporting this prognosis are bearish divergences on the oscillators and potential ABC correctional wave. I'm placing a sell stop order that would trigger if there is breakout downward with a conservative take profit.

İşlem aktif:

The breakout is here and the trade is on!

Yorum:

Price might consolidate for a while forming an inverted flag before continuing to fall down

Yorum:

Price is near a potential reversal level as I noticed another support line:

We also have a hidden bullish divergence forming.

If we get a reversal candlestick formation I will close the position before it reaches the original TP:

İşlem kapandı: hedefe ulaştı:

Price keep forming strong bearish candles but my target is reached and I'm closing the position. The drop was sharp, it is likely we will at least see some retracement up if not full bounce and continuation of the bullish trend.

İşlem kapandı: hedefe ulaştı:

Target level finally reached!