**Oil Sell Setup:**
1. **Entry:**
- Sell at rejection of 0.50 daily Fib + 20 MA confluence
- Wait for bearish confirmation candle
2. **Stop Loss:**
- Place above recent swing high
3. **Take Profit:**
- Target 1: Recent swing low
- Target 2: Previous major swing low
- Target 3: Major support level from higher timeframe
4. **Confirmations:
- Rejection candles at confluence zone
- Failed attempts to close above 20 MA
5. **Management:**
- Scale out at targets
- Move stop to breakeven at first target
1. **Entry:**
- Sell at rejection of 0.50 daily Fib + 20 MA confluence
- Wait for bearish confirmation candle
2. **Stop Loss:**
- Place above recent swing high
3. **Take Profit:**
- Target 1: Recent swing low
- Target 2: Previous major swing low
- Target 3: Major support level from higher timeframe
4. **Confirmations:
- Rejection candles at confluence zone
- Failed attempts to close above 20 MA
5. **Management:**
- Scale out at targets
- Move stop to breakeven at first target
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.
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.