Trade of the week - Crude Oil's consolidation range
Reasons of Placing the Trade:
Overbought RSI with divergence scheming a Supply Level
Volume Increase
Rejections at the same Supply Level with rotations to the nearest demand Level
Setup:
Sell
Stop Loss: 120 pips of length @57.40
Take Profit 1: 460 pips of length @51.60
Reward: 4:1
Overbought RSI with divergence scheming a Supply Level
Volume Increase
Rejections at the same Supply Level with rotations to the nearest demand Level
Setup:
Sell
Stop Loss: 120 pips of length @57.40
Take Profit 1: 460 pips of length @51.60
Reward: 4:1
Note
1:1 reward reached.Trade closed: stop reached
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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.
Related publications
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.