US Crude oil has seen a bit of a run up to the trendline and has now put in a strong divergence on the 30 min chart and is overbought on the hourly. We also now have a lower high on the hourly charts and moving averages are still sloping downwards. We could see a retracement back down to the low of the triangle and a fakeout breakout before a move higher.
These types of divergence plays are my A* trades with an 80-90%% success rate. I prefer them on the hourly chart as 30 min doesn't give much time movement potential however this one is worth a shot. There is some support though so if we take out the high or the MACDH turns positive bouncing of support I would expect a strong move higher. This nearly always happens when these divergence plays fail, so really its a win win situation. Either we get to short profits or we can reverse for a decent long.
These types of divergence plays are my A* trades with an 80-90%% success rate. I prefer them on the hourly chart as 30 min doesn't give much time movement potential however this one is worth a shot. There is some support though so if we take out the high or the MACDH turns positive bouncing of support I would expect a strong move higher. This nearly always happens when these divergence plays fail, so really its a win win situation. Either we get to short profits or we can reverse for a decent long.
評論:
Register at breakoutfakeout.com for further training and 1 to 1 coaching sessions
交易進行:
Closed 75% of profits at the first swing low (underneath 5 min 200ema), trading each swing now of the 5 min charts
交易結束：目標達成:
Closed all shorts, profit target reached. I don't really trade breakouts, looking to reverse and go long around here
About me: I'm a retail day trader (trading since 1993). Most ideas here are for short time frames and become profitable quickly. I take profits fast as things change fast. 1-2-1 mentoring sessions available.
Telegram coming soon.
Telegram coming soon.