WTI US crude oil. Buy. Divergence. Gap fill?

Here we can see a nice divergence of lower prices with a rising RSI and MACDH divergence on the hourly. Nice Doji reversal candle to.

Analysis of the WTI charts shows big volume on this candle to.

Is this a double bottom? Will we see a big pump up to the neckline? Resistance box to get through first. As always I'll be taking profits as we hit that and buying pullbacks again on the 5 min (or 1 min depending on momentum) charts.

Commentaire:

Stop loss at low of divergence candle (21.39) or if the MACDH turns negative again

Commentaire:

First target. Gap fill at 23.09

Trade fermée: ordre d’arrêt atteint:

Stop hit, doesn't look good for oil, when these types of divergences fail we often get a powerful move the other way. Good time to reverse the trade and go short

Commentaire:

Just a little extra comment here a week or so on. This was a real choppy trade with a string of divergences and my initial stop being hit before the powerful move upwards! Sometimes a trade has to be tried multiple times with small stop losses before the big profits come in.