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OIL - Call for the cycle top

TVC:USOIL   WTI原油
Oil             is due for a drop into its intermediate low. I'm entering an 50% short position here at 60.17$. If we don't erase today's reversal candle I will enter the other 50% short position. My suggested margin impact is 50% for ones whole account.
I'm already short with a smaller position from this idea :

So I'm just going deeper in this short trade. We have a nice MACD devergence on the daily and TSI is starting to cross over.
RSI is extremely overbought.

Firs we will test the previous intermediate cycle top at 55$.
The next level is the 200 SMA at 50-51$. That is the first possible level to print the ICL. But I think we will break below the 200 SMA and maybe tag the first DCL at 45-46$. Time will tell.


評論: Selling 25% at 61.82. We are in 75% position now.:/
snapshot
評論: Selling the last 25% of the position at this bearish pin bar. Price :63,56$
snapshot
the top has in
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popshvt popshvt
holding short
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e12568 PRO popshvt
@popshvt, same. Let's see some long stops get taken out today!
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Hmmm barely a new high ($64.81 vs. 64.77 last week) on super low volume..sure looks like a hanging man top to me...that's where my calculated bet is placed.
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Monday open and price action will be critical. Friday close with a price surge but no new high, a mild bearish sign. Im short with a good risk/reward ratio.
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Now what any idea ? Reversal candle looks like was a trap for bears. Is it invalid or valid still I mean reversal candle. Thanks
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@Mukto Exercise patience and you shall be rewarded :) Arrigato.
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https://youtu.be/WOVEy1tC7nk a little bit of history.
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Mr.USD looking ugly.
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added at 64.14. keep alert.
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