USOIL SHORT
Updated
Trade (1)
Entry Type : Market Sell @ 57.15 w/ candles stick confirmation
Stop Loss : 57.50 T
Take Profit : 55.00
R/R : 6.14
R/R % : .37% / 2.27%
Trade (2)
Entry Type : Limit Sell @ 57.30
Stop Loss : 57.50
Take Profit :55.00
R/R : 11.25
R/R % : .37% / 4.16%
Technical Analysis: We can see price action has formed and stayed within an ascending channel. As expected price action has retested the top of the channel and had declined upon doing so. I am now expecting a slight bullish pullback into the 55.15 - 55.30 range (61.8 - 71.0 Fibonacci Levels) where I will look to executive a manual position when receiving a candle stick confirmation as well as a limit sell order at the top of the range. My stop loss is above a minor resistance as well as the 78.6 Fibonacci level meanwhile my take profit is placed slightly past the -61.8 Fibonacci level at the 55.00 psychological target.
Entry Type : Market Sell @ 57.15 w/ candles stick confirmation
Stop Loss : 57.50 T
Take Profit : 55.00
R/R : 6.14
R/R % : .37% / 2.27%
Trade (2)
Entry Type : Limit Sell @ 57.30
Stop Loss : 57.50
Take Profit :55.00
R/R : 11.25
R/R % : .37% / 4.16%
Technical Analysis: We can see price action has formed and stayed within an ascending channel. As expected price action has retested the top of the channel and had declined upon doing so. I am now expecting a slight bullish pullback into the 55.15 - 55.30 range (61.8 - 71.0 Fibonacci Levels) where I will look to executive a manual position when receiving a candle stick confirmation as well as a limit sell order at the top of the range. My stop loss is above a minor resistance as well as the 78.6 Fibonacci level meanwhile my take profit is placed slightly past the -61.8 Fibonacci level at the 55.00 psychological target.
Order cancelled
Candlestick for the market entry never presented itself thus was not executed. No market entry means no limit entry.
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