Asset: CFDs on Crude Oil (WTI)
Timeframe: 1 Hour (1H)
Pattern: Rising channel (ascending parallel channel)
Trade Type: Short (Sell) Setup
Risk/Reward: The trade is planned based on a channel breakdown, targeting a move down to the base of the move.
📊 Key Trade Levels
Type Price Level
Entry 6,709.7 – 6,711.0 (near upper channel resistance)
Stop Loss 6,762.0 – 6,762.3 (above recent highs)
Target 6,353.6 – 6,353.8 (near recent support)
🧠 Trade Rationale
Rising Channel Break: Price is currently within a rising channel, but recent candles show rejection at the upper boundary.
Fakeout Trap: There's a sketched projection suggesting a false breakout to the upside, followed by a sharp reversal into a short move.
Entry Zone: The trade is planned if price retests the upper zone (entry area), which aligns with the top of the channel.
Target Zone: The projected target is around the bottom of the channel or just below, implying a full retracement of the previous bullish leg.
Risk Management: Stop loss is placed slightly above the upper boundary to avoid getting stopped out by minor wicks.
📈 Technical Insights
Bearish Momentum Potential: If price fails to hold above the channel and re-enters with strong bearish volume, it supports a short entry.
Volume Analysis Needed: A confirmation with increasing volume on the breakdown would strengthen the setup.
Trend Reversal Signal: This setup may be hinting at a trend reversal or at least a significant pullback from the current upward trend.
✅ Conclusion
This is a high-probability short trade setup based on:
A break/retest of an ascending channel.
A potential false breakout trap.
Defined entry, stop loss, and take profit levels offering a solid risk/reward ratio.
Timeframe: 1 Hour (1H)
Pattern: Rising channel (ascending parallel channel)
Trade Type: Short (Sell) Setup
Risk/Reward: The trade is planned based on a channel breakdown, targeting a move down to the base of the move.
📊 Key Trade Levels
Type Price Level
Entry 6,709.7 – 6,711.0 (near upper channel resistance)
Stop Loss 6,762.0 – 6,762.3 (above recent highs)
Target 6,353.6 – 6,353.8 (near recent support)
🧠 Trade Rationale
Rising Channel Break: Price is currently within a rising channel, but recent candles show rejection at the upper boundary.
Fakeout Trap: There's a sketched projection suggesting a false breakout to the upside, followed by a sharp reversal into a short move.
Entry Zone: The trade is planned if price retests the upper zone (entry area), which aligns with the top of the channel.
Target Zone: The projected target is around the bottom of the channel or just below, implying a full retracement of the previous bullish leg.
Risk Management: Stop loss is placed slightly above the upper boundary to avoid getting stopped out by minor wicks.
📈 Technical Insights
Bearish Momentum Potential: If price fails to hold above the channel and re-enters with strong bearish volume, it supports a short entry.
Volume Analysis Needed: A confirmation with increasing volume on the breakdown would strengthen the setup.
Trend Reversal Signal: This setup may be hinting at a trend reversal or at least a significant pullback from the current upward trend.
✅ Conclusion
This is a high-probability short trade setup based on:
A break/retest of an ascending channel.
A potential false breakout trap.
Defined entry, stop loss, and take profit levels offering a solid risk/reward ratio.
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join my telegram channel t.me/smartforexacademy45 t.me/smartforexacademy45
JOIN MY REFREL BROKER LINK one.exnessonelink.com/a/gissbq1h9c?source=app
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Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.