Short

USOIL Potential Short Setup

Updated

Seemingly there is another fading short setup coming up. The chart is self-explanatory, the levels are given and for now the only thing left to do is wait until the major bear angle is reached and look for an entry with a price action confirmation.

Trade active

Short @ 5195, a 70 tick stop @ 5265

Note

1R @ 5125, 2R @ 5055 & 3R @ 4985

Note

Limit buy order to close 1/2 @ 5125, a 1R return

Trade closed manually

Closed with 0.14R loss @ 5205

Note

USOIL 1H Follow Up

The next minor and major angle added and the range adapted accordingly

Note

Limit sell order @ 5255, a 70 tick stop @ 5325

Note

Price turned @ 5250, 5 ticks away from the limit sell, by now 1R target would be achieved. But there’s no haste as there are a lot of opportunities ahead.

Note

USOIL 1H

The aftermath

Order cancelled

Limit sell order cancelled

Zoen_Trieste

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.