Hello Word,
The future of CL is presenting a good scenario to open a short position for a couple of days. Here my reason why,
The price is getting correction of Fibo 61,8%
The price is near to a Resistence (green line)
The suplly is stronger that demand ( in the correction the volume is less)
The SMA 30 is near very near to the price.
There so many resistence ahead for the CL and the volume does not come (yet).
That's why from my point of view it is a good scenario to entry today Short with the following Money Management.
Stop loss --> Over 56.00
First Profit --> Fibo 38.2% (53.50)
Second Profit --> Fibo 61.8% (52.41) | One we got the Take Profit of the first contract the second contract make a breakeven
#GoodTrading
The future of CL is presenting a good scenario to open a short position for a couple of days. Here my reason why,
The price is getting correction of Fibo 61,8%
The price is near to a Resistence (green line)
The suplly is stronger that demand ( in the correction the volume is less)
The SMA 30 is near very near to the price.
There so many resistence ahead for the CL and the volume does not come (yet).
That's why from my point of view it is a good scenario to entry today Short with the following Money Management.
Stop loss --> Over 56.00
First Profit --> Fibo 38.2% (53.50)
Second Profit --> Fibo 61.8% (52.41) | One we got the Take Profit of the first contract the second contract make a breakeven
#GoodTrading