WTI trade to $51, 3Day RT Bottom, Inverse HnS 1D QRsi

WTI paints some impressive bullish signals on Heffae Clouds + QuantRsi longer timeframes. The idea of this trade is driven purely by technicals, I am not in the loop on fundamentals whatsoever.

Daily chart shows inverse HnS on the QuantRsi as well as a new trend developing that shows upside potential:

As warning, The last time Qrsi ran -7 on the 3Day QRsi, there was a small bounce, but there was significant continuation to the downside.

Compared to our current levels, the potential for a further slide is possible:

Regardless of this, I think a long trade has decent risk / reward as long as best practices are used when setting stops and take-profit.

Trade stängt: målet nått:

Took some profit from this trade at $49.
Still have 1/3 of position open hoping for $51-52

Trade stängt: målet nått:

I'm fully out at $51.xx

I do not currently have plans to buy a pullback. I will continue looking for setups, but I expect a pullback and consolidation for the near future.

Kommentera:

Perfect trade close on the bottom of 12H cloud, as well as QRsi Trend Resistance