USOIL
had been retracing its bearish trend the last two weeks. It is now currently at key resistance zone. Short order set up for the following reasons: - Overall trend on daily chart is down
- Price resisted key resistance zone at 47.00 to 47.75 (previous April 2016 to June 2017 channel support now became resistance)
- Forming a shooting star candlestick patteren (bearish wick protruding surrounding price action with bearish close)
- Sufficient confluence to support a short, but due to recent higher low that formed, stop will be moved to breakeven at around 45.00
- Minimum of 1.5 RR but potentially > 2RR
- Stop Entry: 46.73; Stop loss: 47.81; Take profit: 43.72 (2.79 RR)
Handel aktiv:
Entry triggered at 46.73
Trade stängt: Stopp nått