USOIL SHORT IDEA
Anticipating a switch to go lower into later next week following bearish structure. Shorts will be favored to a discount lower. anticipating a target of 69.031 as the immediate target and 68.510 as the final.
expecting a range bound market and a break lower.
Key anticipation: the news driver in the New York session could break lower OR reverse.
The first partial profit target is 70.147.
If the high of 72.404 is taken, may consider the idea invalidated.
As always manage risk.
expecting a range bound market and a break lower.
Key anticipation: the news driver in the New York session could break lower OR reverse.
The first partial profit target is 70.147.
If the high of 72.404 is taken, may consider the idea invalidated.
As always manage risk.
Note
We have the confirmation, breakout lower. stops trailed to the highs 72.404. Risk minimized. Potential to go lower and squeeze longs to the close.
Note
71.20 retracement to possibly continue lowerNote
Scaling in more shortsNote
71.500Trade closed manually
SL triggered. Idea invalidated
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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.