Entered a little late, but riding the bearish momentum between now and US crude oil news tomorrow (and might re-enter again afterwards). Setting up a short stop order few pips below the 0 fib line, with 1st TP @65.57 (previous 100 fib level in weekly chart, and R2 pivot line in the daily chart). Most likely will add a trailing SL and adjust TP between 60-65 if bearish momentum continues further especially weekly chart is showing a shooting star and double top.
wsj.com/articles/oil-drops-as-saudi-arabia-pledges-higher-output-1540292062
edition.cnn.com/2018/10/22/business/saudi-oil-minister-embargo/index.html
Daily:
Weekly:
Confidence: B (might suddenly rally before the news tomorrow, will have to manually close before the crude oil news to avoid getting whipsawed and re-enter afterwards)
wsj.com/articles/oil-drops-as-saudi-arabia-pledges-higher-output-1540292062
edition.cnn.com/2018/10/22/business/saudi-oil-minister-embargo/index.html
Daily:
Weekly:
Confidence: B (might suddenly rally before the news tomorrow, will have to manually close before the crude oil news to avoid getting whipsawed and re-enter afterwards)
Trade closed: target reached
1st TP reached, might re-enter after US crude oil news in a bit.
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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.