Oil is approaching an important horizontal structure, which gives a good probability of a retracement from it. Thus, our target trade is short.
Trading plan:
1-if the diagonal support breaks>>
2-short with entry in the area outlined on the chart.
3-SL is ABOVE the dotted line. There is a small structure there, so it is safer this way.
4-two takes according to the horizontal structures. Place your takes slightly above the levels.
Alternative scenario:
1-support breaks way below the specified entry zone>> a potential short, but with worse probability and less risk reward ratio.
2-support stands, the horizontal level breaks>>long
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✅ FREE Telegram channel: t.me/prosignalsfxx
✅ My Website: prosignalsfx.eu/
✅ For VIP SIGNALS contact: t.me/prosignalsfx_contact
✅ RELIABLE BROKER: prosignalsfx.eu/trustedbroker
✅ My Website: prosignalsfx.eu/
✅ For VIP SIGNALS contact: t.me/prosignalsfx_contact
✅ RELIABLE BROKER: prosignalsfx.eu/trustedbroker
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.