Quick pattern update here.
WES appears to have an Inverse H+S pattern forming on the lower timeframe.
A clean break from the pattern would target the $9.30 range, setting a conservative exit, with a close below the purported right shoulder would minimize potential for losses.
WES has been one on my list for a while lately and I recently closed a position for over 170% gain.
The news surrounding oil prices is negative, however WES is a refiner not a producer, so WES, if anything would have benefited (in the short-term) with the negative May contract prices.
I may look to do a more detailed write up on WES in the coming day or so, concerning position details.
-TradingEdge
WES appears to have an Inverse H+S pattern forming on the lower timeframe.
A clean break from the pattern would target the $9.30 range, setting a conservative exit, with a close below the purported right shoulder would minimize potential for losses.
WES has been one on my list for a while lately and I recently closed a position for over 170% gain.
The news surrounding oil prices is negative, however WES is a refiner not a producer, so WES, if anything would have benefited (in the short-term) with the negative May contract prices.
I may look to do a more detailed write up on WES in the coming day or so, concerning position details.
-TradingEdge
For more analysis, consider joining our telegram group for trade updates and ongoing opportunities, link in my profile.
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
For more analysis, consider joining our telegram group for trade updates and ongoing opportunities, link in my profile.
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.