After establishing a long position at the crude oil price of $58.20 on the previous trading day, the market moved up as expected to above $58.60, resulting in a stable profit.
Looking back at that day's movement, crude oil indeed maintained a relatively tight trading range. The opening price was set at $58.55, and during the Asian and European trading sessions, the price repeatedly tested around this level. It was only during the US trading session that a clear pullback occurred, with the lowest touching $58.20. This level happened to be the optimal entry point for a long position. Subsequently, the price gradually recovered and finally stabilized around $58.63.
From a technical perspective, yesterday's daily candlestick closed as a doji star, with the upper shadow slightly more prominent than the lower shadow. This type of candlestick pattern often indicates resistance to a rebound in commodities like crude oil. Therefore, today is suitable for shorting at high points.
Specifically, focus on the key resistance level at $59.0. Once a rebound reaches this level, look for shorting opportunities based on resistance. Meanwhile, set the target at around $57.10 as a take-profit reference. This approach is relatively reasonable given the current volatility and technical pattern.
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DevChive
· 11h ago
Tsk, another perfect recap... Why isn't trading this smooth?
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ThesisInvestor
· 11h ago
Hmm... A shooting star followed by a bearish trend, the pattern is deep. Can this wave reach 59?
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DeepRabbitHole
· 20h ago
Wow, it worked again? I need to copy the homework.
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GoldDiggerDuck
· 20h ago
Damn, I hit again. Is it luck or skill? Can't quite explain it.
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ReverseFOMOguy
· 20h ago
58.20 entered long position to harvest a wave, not bad, not bad, this wave is indeed stable
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EyeOfTheTokenStorm
· 20h ago
58.20 is indeed a remarkable level. Just wonder who can precisely grasp such a turning point... By the way, are doji candles really prone to dropping afterward? My historical data model actually signals a bullish trend. Can this rebound break 59?
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GasFeePhobia
· 20h ago
58.2 was hit, feels good. With this momentum, we're steady.
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BridgeNomad
· 20h ago
nah, that doji setup screams fragmentation risk to me... seen this liquidity pattern before on failed routing, slippage just keeps compounding once trust breaks down
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ChainSauceMaster
· 21h ago
58.20 going long to 58.60 really made a profit, this wave of operation has a good rhythm
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The judgment that the doji star is a rebound resistance is reliable. If it can't break 59.0, you should consider shorting
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As soon as the US session starts, it crashes, while the Asian and European markets are dithering. You need to get used to this rhythm
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The take profit point at 57.10 is a bit deep; crude oil's volatility makes it easy to be washed out
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The review was very detailed, but is the doji star really that reliable? It feels like the market still moves with news
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58.20 is truly a perfect entry point, roughly the bottom rebound
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The 55-minute chart for the short position still needs to be watched; only focusing on the daily chart can lead to big losses
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This tight range is actually most prone to false breakouts, be careful
After establishing a long position at the crude oil price of $58.20 on the previous trading day, the market moved up as expected to above $58.60, resulting in a stable profit.
Looking back at that day's movement, crude oil indeed maintained a relatively tight trading range. The opening price was set at $58.55, and during the Asian and European trading sessions, the price repeatedly tested around this level. It was only during the US trading session that a clear pullback occurred, with the lowest touching $58.20. This level happened to be the optimal entry point for a long position. Subsequently, the price gradually recovered and finally stabilized around $58.63.
From a technical perspective, yesterday's daily candlestick closed as a doji star, with the upper shadow slightly more prominent than the lower shadow. This type of candlestick pattern often indicates resistance to a rebound in commodities like crude oil. Therefore, today is suitable for shorting at high points.
Specifically, focus on the key resistance level at $59.0. Once a rebound reaches this level, look for shorting opportunities based on resistance. Meanwhile, set the target at around $57.10 as a take-profit reference. This approach is relatively reasonable given the current volatility and technical pattern.