Short

SHORT Brent Crude @ 51.00 TGT 48.80/47.20/44.50

Updated

I was waiting for the price to touch 50.60-51.30 area and have shorted @ 50.94 averaged
I think it's a great idea to sell retest @ around 51.00
Will be updating this chart as we go, there is a long way to play ups and downs in the weeks to come)

First target 48.80

I have no SL for this trade, however the idea invalidates if we cross 52.00 barrier on Thursday and first warning signal is 51.45+

R/R is comfortable @ 1:2-1:6

Enjoy the bear :)

Trade closed: target reached

book partial profits @50.00
next intraday TP targets are 49.40/48.80
re-enter sell agressively @ 50.50/51.00

Trade active

Sorry, wrong chart above. Here it goes:

Note

Add short @50.00, however there is a good probability that we might touch 50.75 today in a few hours and big impulse wave starts to the south. So I might reverse @ around 49.50 to catch it depending on price action. Watching DXY/Gold/S&P price action closely

Note

Adding more (and final) shorts @ 50.60-50.80

Trade active

TP1 Reached. Book some profits! We're in PRZ area. Caution! If price breaks 48.65 next intraday TP is 47.80

Note

intraday buys 48.90/47.90
intraday sell 49.50/50.10
Play it safe

Note

48.70 add intraday long stop 48.60

Note

48.20-47.90 take some profit from short play. Intraday buy zone (expecting 1$-1.5$ pullback to 49.50)

Note

Taken full profit from 50.00+ shorts. 47.20 is realistic target for today if we break 48.80, but pullback is more likely. Re-entering shorts is possible @ 49.20-51.10 area

Note

Shorted @ 48.05, TGTs in blue. If it doesn't work, re-entering short position @ 48.75

Note

Not yet.... but @48.75 I'm into shorts definitely

Trade closed: target reached

Well, we have reached 2 out of 3 targets. At this very moment it looks like we might be targeting 50+ area again and possibly making new high. At least I am not selling at the moment. Originally, I have estimated the down cycle to end today as indicated, thus current idea is closed.
Wait and sell the triangle breakout @ 47.10 if it happens.
Alternative Long idea is coming soon.

Trade active

Selling @ retest of 47.20 was a good idea, Activating this idea again. Continue to enjoy the bear.... Daily targets are 45.75 45.45(!) 44.50 43.90

Note

Adding shorts @46.50

Trade closed: target reached

aleIa

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.