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James16

Long term WTI outlookWe had a decent steep decline in price but as always price has to correct itself. Weekly s1 was a good place to start that correction. Right now we could be looking at a strong resistance at 23% fibo of previous wave or even 38%(which I think is less likely looking at the bearish momentum we got). I'll add to my shorts again near the green dotted line. Huge negative divergence on a weekly chart, price action and candlestick formation(bearish engulfing) makes me confident in continuation of the newly formed downtrend.
FX:USOILShort
by cyanfrog
1
GBPCAD Price action short signalThe pair is currently in a consolidation box just below pivot point and exactly at 50% of the box. We got strong longer term down trend, double high and nice outside bar. I entered the short on outside bar low break and set initial SL just above outside bar high. If you've seen my older trades you will know, that my SLs are dynamic and I adjust them every day - trying to set break even as soon as the price establishes strong position under important levels. As you can see, outside bar closed just below previous support level and at monthly pivot point. I'll use this points for my future SLs. First target is obvious bottom of the box.
Short
by cyanfrog