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Crude Oil M30 Chart Overview and Trade Opportunity

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

Active/Pending: Pending

Trade: Short

Entry: 57.90

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

Notes:

  • 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:

  1. 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.
  2. Pay attention to Time Frame, Trade Period and Estimated Completion Time, Accuracy and Recommended Lot Size clauses mentioned below.
  3. Do not risk more than 2% in one trade setup.
  4. 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.
  5. 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

CRUDE OIL: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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