Crude Oil Futures (Nov 2017)Updated Oil - Potential Slowdown Ahead
Reaching new highs
For confirmation of short;
1. Reached slowdown area, red
2. Overbought RSI and 0 gradient
3. Overbought MACD and declining signal line
Short at 52.40
Stop loss: honestly cant tell at this point in time
Expected TP: before preceeding high, 50.40 (maybe at 50.55)
Profit range of 1.80,
to achieve a rr ratio of 2, SL is to be set at 53.3 (i.e. 52.4 + 1.8/2)
Best trades ^^
For confirmation of short;
1. Reached slowdown area, red
2. Overbought RSI and 0 gradient
3. Overbought MACD and declining signal line
Short at 52.40
Stop loss: honestly cant tell at this point in time
Expected TP: before preceeding high, 50.40 (maybe at 50.55)
Profit range of 1.80,
to achieve a rr ratio of 2, SL is to be set at 53.3 (i.e. 52.4 + 1.8/2)
Best trades ^^
Trade active
Enter shortTrade active
Partial profit taken at 49.26, currently at 0.382 fibb levels thus expecting some support.Note
Bounced up, to monitor strength of this reversal upNote
Possible formation of an upward (bearish) wedge if it isnt a channel.To await for triangle breakout upwards for now
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