Breakout Patterns PremiumClosed TradesCommoditiesCommodities PremiumCompleted Breakout PatternsCrude Oil Trade Ideas PremiumCup and Handle PatternIntraday Forex SignalsPremiumRounding BottomTrade Setups

Crude Oil Rounding Bottom And Long Opportunity

Crude Oil Rounding Bottom And Long Opportunity

Oil started the week higher after a drone attack on a Saudi Arabian oil field. Crude Oil is printing a rounding bottom and cup&handle pattern on the H1 Chart. Our trade setup is as follows:

Pattern /Reason: Rounding Bottom

Time Frame: H1

Accuracy of the Pattern: 78%

Setup No: CRUD081901

Recommended Lot: 0.40

Trade Period: Intraday

Active/Pending: Active

Trade: Long

Entry: 55.51

Stop Loss: 54.70

TP1: 55.86 / Reached

TP2: 56.25 / Reached/  Book partial profit

TP 3: 56.50

Structural Target: 56.95

Divergence/ Convergence Confirmation: Not Yet – Will be updated.

Candle Pattern Confirmation: Bullish Pinbar

Moving Average Confirmation: EMA50 Support

The trend of the Timeframe: Bullish

The trend in the Daily Chart: Bearish



  • We book partial profit and move the stop loss to entry. We will add long if it makes closing above 56.25.
  • Bearish Bat pattern would be completed at D 56.95. I will post the details of the pattern later.

Warning and Things to Pay Attention:

  1. Harmonic Patterns are reversal patterns and mostly against the main trend on the chart they appear.
  2. 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.
  3. Pay attention to Time Frame, Trade Period and Estimated Completion Time, Accuracy and Recommended Lot Size clauses mentioned below.
  4. Do not risk more than 2% in one trade setup.
  5. 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.
  6. 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

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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