WTI Crude Oil Trade Setup: Triangle Breakout
Pattern /Reason: Triangle Pattern / Bearish Butterfly
Time Frame: M30 / H1
Accuracy of the Pattern: 83%
Setup No: CRUD240602
Recommended Lot: 0.20
Trade Period: Scalping / Intraday
Entry: 57.90 -58.00
Stop Loss: 57.20
TP1: 57.50 / Reached
TP2: 57.65 / Reached
Divergence/ Convergence Confirmation: —-
Candle Pattern Confirmation: —-
Moving Average Confirmation: SMA 100 Resistance
The trend of the Timeframe: Neutral
The trend in the Daily Chart: Bullish
As seen on the chart Bearish Butterfly at 58.65 to short. But we need to see the Price action.
We also have Bearish Bat Pattern on the H4 Chart as I posted before. Short Entry Zone: 58.60-58.90. But its too early to speak out it.
Update: Long Trade Reached the targets and closed.
Bearish Butterfly Setup: Crude Oil Butterfly and Short
Warning and Things to Pay Attention:
- Harmonic Patterns are reversal patterns and mostly against the main trend on the chart they appear.
- 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.
VERIFIED ACCOUNT AND SETUP RESULTS
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