WTI, attempted break of the channel
Updated
After selling from the high of the channel, price now tested the support level to attempt a break lower. A pending order can be placed below the low, safest stop above the 50% retracement where price retraced before continuation. RRR is 1.11, unless your stop is more aggressive.
Alternatively, a long is possible with a much tighter stop to attempt a trade back to the highs of the channel or a break above the 50% retracement.
Alternatively, a long is possible with a much tighter stop to attempt a trade back to the highs of the channel or a break above the 50% retracement.
Note
Note
Price finally reached the low of the channel, take or profits or lock them in. Now we can wait for further price developments, hopefully testing the trend line on a daily next.
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