Not much more to describe , pure price-action move based on the sideways movement of the oil price since mid-june. Cannot see yet any significant price-action based signal of trend confirmation either up or down, but it is possible we are seeing the formation of a head and shoulders, as well as lower highs and lower lows as this bulls seems to be fighting the stronger downtrend, pending confirmation. Playing the range for now.
Trade closed: target reached
Obviously target was reached and made a very good profit last week on this trade. If I had one of these every week, I would be a very happy man.
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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.