Nice setup to short Crude oil falling channel 🛢️📉
CL1! is trading now in long-term supply area ( resistance). After estabilished triple top price pattern we could see tradingCL1! in falling channel.On hourly timeframe its clear downtrend and price forming hanging man pattern.After breakdown diagonal trendline price is testing it, its perfect setup to short entry.
here is data for my trade:
------------------------Trade setup ---------------------------
Entry: 52.62
Stop Loss: 52.92
Profit target: 51.54
Time stop: MOC ( Market on Close)
------------------------------------------------------------------
If you like the idea, do not forget to support with a đź‘Ť like and follow.
Leave a comment that is helpful or encouraging. Let's master the markets together.
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.