I might be too nervous, but if the batman heads and shoulders does play out we should be going down a couple of dollars. I think this technical pattern has been created by USA Market Making traders warning Iran that they have Batman on their side! ...

WTI Crude Oil Trading

I feel there is a big fight happening around the center line and looking left down the chart this expected, So SL (SP) = BE. As I said earlier I don't often trade such short TFs. image

WTI Crude Oil Trading

And then fundamentals play a role in your confidence to trade. I'm sorry about that, but it's true. For example, with oil there is the captured oil tankers problem, which could all of sudden play out in different ways and dramatically change the ...

WTI Crude Oil Trading

You may also notice that, visually, my difference of TP to the bottom channel is roughly the spread. The difference between the two white lines, the ASK line and the PRICE line. Often price will kiss your target, (the bottom channel line), but not ...

WTI Crude Oil Trading

I think the reason for that is that the center line is another SR zone and if you break it then support becomes resistance.

WTI Crude Oil Trading

As TimingChain pointed out earlier, if you cross the channel center line you have a great chance to keep moving in your direction. I adjusted TP slightly down again. image

WTI Crude Oil Trading

The TMA channel is trending down so I adjusted my TP slightly lower, (that means I'm following the trend - which is down - channel pointing down). I removed the SR zones, (white dots). I was experimenting with this version and it adds no value. ...

WTI Crude Oil Trading

and as such, (after breaking a few of my own rules), here I am: image

WTI Crude Oil Trading

PS. Like in my last trade above, very often a SL means SP (Stop profit). That's why I so seldom use them. Oil is very different in that it can go like a rocket and it expires, meaning you can't run losses for as long as you might wish to. Which ...

WTI Crude Oil Trading

I trade it like this, (adjust the colours to represent mine): Sell a red cross if it is above the channel line. Then add a take profit close to the bottom of the channel line. You can see from my posts. Do this every time that it presents itself. So ...

WTI Crude Oil Trading

Hi Corinthia This is Mladen's and I think Mr Tools, work: file file Leave the settings as they are but adjust TFs. Mostly M30 to D1. I think trading is really the art of patience. We just get lucky when it happens quickly.

WTI Crude Oil Trading

Here it is. Perhaps the tick up was because of Nat Gas and now we revert back to true price... image

WTI Crude Oil Trading

Ah well, hit SL for BE. But that second shoulder is forming - perhaps we get a second chance at it? image

WTI Crude Oil Trading

Added SL = BE image

WTI Crude Oil Trading

Hi Timing. Went short - see above. Just worried that at any moment Uk and Iran swop out their tankers and price drops. Or not and it goes up with more threats? Tenuous.

WTI Crude Oil Trading

Looks like we may still hold this range... One of those patterns that you just can't miss - Head and Shoulders - of Batman!!! image

WTI Crude Oil Trading

Not sure how to deal with this area... Any ideas? image

WTI Crude Oil Trading

Moved SL's right up to TP if rebounds. image

WTI Crude Oil Trading

image

WTI Crude Oil Trading

Ok... image

WTI Crude Oil Trading