USOIL: Short idea after the pullback
Updated
Hi traders,
On the USOIL 4H timeframe we can see that price has broken the bullish trendline and is now turning into a flag formation. I really want to try to enter just a bit above the current market price to get a better risk to reward ratio.
Entry: 53.30
Target 1: 51.50
Target 2: 49.65
Targets are based on previous structure.
Good luck traders! I will be updating this chart as time progresses.
On the USOIL 4H timeframe we can see that price has broken the bullish trendline and is now turning into a flag formation. I really want to try to enter just a bit above the current market price to get a better risk to reward ratio.
Entry: 53.30
Target 1: 51.50
Target 2: 49.65
Targets are based on previous structure.
Good luck traders! I will be updating this chart as time progresses.
Note
Target 1 hit. Moved stop to 51.60Trade closed: target reached
Both targets hit!
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