WTI tested 786 fib - can we long now?

2023年11月7日

When WTI (West Texas Intermediate) crude oil reaches the 78.6% Fibonacci retracement level, a common behavior is to experience a reversal or consolidation.
This may indicate a shift in trend to bullish or a period of consolidation before further movement.

The current Fibonacci level aligns with a significant historical support area with ±77$ price range, it may strengthen the potential significance of this fib level as a support zone.

Taking into account the current geopolitical situation, while military conflicts may seem to pause or temporarily de-escalate, it doesn't necessarily mean they have been fully resolved, and anything can happen.

To summarize, I see LONG potential up to the next fibs as the targets (65)

Best of luck!

2023年11月8日

注释

Looking at what happened today, it seems like WTI isn't staying at the 786 place.
I think it's going to head to the next support place soon at 73-74.

2023年11月16日

交易开始

Trade open:
BUY @ 74.58$

2023年11月16日

交易结束：到达止损

Stop reached @ 74.18$

2023年11月16日

交易开始

Re-entering trade @ 73.217 $

2023年11月16日

交易结束：到达止损

Stop reached @ 73$

2023年12月5日

交易开始

Re-entering trade @ 72.47
SL 71.47
TP 77.47

2023年12月13日

交易手动结束

Closed on BE

2023年12月13日

交易开始

Re-entering trade @ 68.23
SL 66.73
1st TP 71
2nd TP 73
3rd TP 75

2023年12月14日

交易结束：到达目标

First part closed on 3$ profit mark @ 71.27
Otherwise, moving SL to BE.

2023年12月18日

注释

2nd TP reached on 73$, 1/3 closed.
Overall 2/3 of current trade is closed, expecting 75$.

2023年12月20日

交易结束：到达目标

75$ dollar target reached, trade now is fully closed.