CL has break out above the triple top resistance (4 Hour and 1 Hour chart), My 1st trade to Short CL were triggered stop loss of 40 cents.
Like what I mentioned yesterday CL may form a false break to 96.03, but it has break up all the way to 97.00 region and currently trading slow.
Therefore, my view on CL has switched from bearish, to bullish.
Lets see yesterday trade setup, shorted at triple top, and the price action after breaking the top.
Observe the price action at this level, it has invalidate my previous forecast, therefore, I turned from bearish, to bullish on CL, forecast the bullish sentiment to continue until $99.80.
GBP/USD
GBP/USD rebounded when it touched 1.6000, lowest 1.5988.
I took profit at 100 pips and GBP/USD is trading at 1.6070.
Market direction: Range bound.
Similarly, today I will do intraday trade with Fibo Range:
1) to Short @ 1.6134 SL 1.6174 TG 1.6030
2) to Long @ 1.5980 SL 1.5940 TG 1.6080
GBP/USD will be super bearish once it cross below 1.5900.
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