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cheminacci

Countertrend Bullish Butterfly with Low Risk

Long
Light Crude Oil Futures (NYMEX:CL1!)  
cheminacci Updated   
NYMEX:CL1!   Light Crude Oil Futures
Oil fibaonacci Butterfly Bullish Butterfly countertrend crude wticrude cheminacci LONG Double Bottom
2
4
oil fibaonacci butterflypattern bullishbutterfly countertrend crude wticrude cheminacci long doublebottom
The Potential Reversal Zone on this butterfly pattern is right above a previous major low. Because of this the risk is tiny compared to the reward. (1:10 for target 1), (1:18 for target 2). Entry at 27.74. Stops below 27.56. Potential targets at 29.95, and 31.37.
Comment:
Structure broken.
Trade closed: target reached
Trade closed: target reached:
Target 2 hit.
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