WTI Breakout
Updated
This one is for those breakout traders. Looks like WTI wants to break out of this downward trendline. If it does there is two setups I would take, one with a conservative TP at $23.4, and one much more of a swing type TP that might have to be held for a prolonged time at $28. An aggressive entry would be with any kind of trendline break around the $19.7 - $20.3 range. A more conservative entry would be to wait for a 4H close above trendline and stack limits down to the trendline for the retest. To each their own, follow your rules and manage risk.
Note
Breakout is looking very good. First take profit hit and second one rapidly approaching. With June contracts ending it's a good place to take more off if you don't want to hold during the pullback.Trade closed: target reached
Take Profit 2 hit, great trade.
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