US OIL : Short
As we can see the US OIL is in official bearish trend and if we get a setup on a shorter time frame i.e 4 hours or hourly , that goes in line with the daily chart trend means we have a good trade at hand.
US OIL Short sell : factor of confluence
1. Trade is in-line with the dominant daily trend (Bearish)
2. EMA's confirming the Sell Setup , momentum down
3. 23% retrace level of the daily fib : Single wave
4. 150 exp rejection
5. Minor fake out Setup. A well formed pin bar rejecting the dynamic resistance (EMA) & the static 23% retrace level + a strong rejection of the 4 hours multiple inside bars setup and closed within.
6. 1:2 R:R available.
As we can see the US OIL is in official bearish trend and if we get a setup on a shorter time frame i.e 4 hours or hourly , that goes in line with the daily chart trend means we have a good trade at hand.
US OIL Short sell : factor of confluence
1. Trade is in-line with the dominant daily trend (Bearish)
2. EMA's confirming the Sell Setup , momentum down
3. 23% retrace level of the daily fib : Single wave
4. 150 exp rejection
5. Minor fake out Setup. A well formed pin bar rejecting the dynamic resistance (EMA) & the static 23% retrace level + a strong rejection of the 4 hours multiple inside bars setup and closed within.
6. 1:2 R:R available.
Trade active
Stop placement @ $54.20 ( Above the high of the 4 hourly Pin bar)Profit target @ $52.40
Entry Price @ $53.60
Cents Risked : 60
Cents targeted : 120
R:R = 1:2
Note
Please bring your Stop to B-even NOW: So , now we are sitting Risk free in this trade.Current Price is : $52.90 :
Note
Please bring your stops to $53.80 NOW!We just dont wana get sucked in random market noise.
Trade closed: stop reached
We opened this position with 80 Cents Stop & closed it with 20 Cents Stop.This trade was the loser but the process won & the process was always cutting the losers short.
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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.