Crude Oil M30 Chart Overview and Trade Opportunity
Pattern /Reason: Rising Wedge Pattern
Time Frame: H1 Chart
Accuracy of the Pattern: 73%
Setup No: CRUD240601
Recommended Lot: 0.20
Trade Period: Scalping / Intraday
Second Entry: 57.60
Stop Loss: 58.40
TP1: 57.40 / TP1 OK
TP2: 57.00 / Reached
TP 3: 56.70 / Reached
Divergence/ Convergence Confirmation: Not Yet – Will be updated.
Candle Pattern Confirmation: Bearish Engulfing Confirmed
Moving Average Confirmation: SMA20
The trend of the Timeframe: Bullish
The trend in the Daily Chart: Neutral
- If the price can’t break the wedge, it is likely to complete Bearish Butterfly at 58.60.
Update: TP3 Reached 120 pips Trae Closed
Warning and Things to Pay Attention:
- Target levels are determined by MM Calculation as the pattern has not been completed yet. They may vary 3-5 pips according to the completion level of the predicted patterns.
- Pay attention to Time Frame, Trade Period and Estimated Completion Time, Accuracy and Recommended Lot Size clauses mentioned below.
- Do not risk more than 2% in one trade setup.
- We usually book partial profit at the first target and move our stop loss to entry or break-even level. Use your own risk/profit management to exit the trade.
- We are publishing potential opportunities. There are no certainties and traders bets on possibilities. Read the setup carefully before entering a trade and take your own decision.
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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
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