( SHORT in progress) week49 WTI breaking 4 weeks low with 3 x #trappedtrader signal

d1

after several months of consolidation, price has completed a head and shoulders pattern and started to move down.

Thereafter, there was another 4 weeks consolidation with same low for 4 weeks.

week49 WTI D1 6reaks 4 weeks low 071215

h4

Nearing the 4 weeks low support, 3 x h4 #trappedtraders signal was spotted. I am taking this as impending signs of bearish breakout, and hence I am willing to stake more in this short. Of course in doing so, I must also set a stop loss above last week’s high in order to mitigate risk. Any drop below this support will send price into space below.

week49 WTI h4 trappedtrader triple signal 071215

 

edited 081215

 

price smashed the 4 weeks low after the trappedtraders signal, closing with a power bearish day. My conviction on the proprietary indicator has strengthened and I will continue to observe and improve it.

 

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