USOil short follow up
Updated
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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