USOil short follow up
For my previous post regarding USOil see link below:
I was looking for that last extension to finish and played the short set-up aggressively because of my overall view which I explained in the previous post. My stop loss is above the recent high and once (IF) we see a consolidation I will be looking to sell the continuation once more, after the bearish continuation I will move my stop loss to above the high of the consolidation (which has yet to start for a confirmation that the recent high really is a top).
4 hr chart below:
Updates will follow once the consolidation starts, my target is still 40 and maybe even a new low from here to test 20.
timstuyts.com
facebook.com/timstuyts
youtube.com/watch?v=HvmWTm4fcl8
I was looking for that last extension to finish and played the short set-up aggressively because of my overall view which I explained in the previous post. My stop loss is above the recent high and once (IF) we see a consolidation I will be looking to sell the continuation once more, after the bearish continuation I will move my stop loss to above the high of the consolidation (which has yet to start for a confirmation that the recent high really is a top).
4 hr chart below:
Updates will follow once the consolidation starts, my target is still 40 and maybe even a new low from here to test 20.
timstuyts.com
facebook.com/timstuyts
youtube.com/watch?v=HvmWTm4fcl8
Note
USOIL is continuing its move lower. We might see a more significant consolidation soon which will provide an opportunity to sell the continuation.Note
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Related publications
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.