CL1! Crude Oil Day Trade 6-Dec-2023

NYMEX:CL1!   Light Crude Oil Futures
TRADE DIRECTION: SHORT; as indicated by the red EMA cloud and the market structure.

1) Round numbers S&R with 25 ticks range between each level (hidden)
2) Monthly, Weekly and Daily Pivot levels.

TRIGGER SIGNAL: Price broke the previous day's low (green circle) and retraced to the bearish EMA cloud. A bearish pin bar (in yellow circle) formed as a sign sellers are ready to push the price down. The Profit target is set to be 3 ticks above the Daily S3 (white circle).

RR: 1:1.56

SL: 54 Ticks
TP: 84 Ticks (achieved)

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