I am not sure which way oil will be going. What I do see is a good profit goal if oil sells off or pullback a bit.
Oil is nearing upper black trendline. This is also the top of an parallel channel. This also means we are close to overbought.
You can see my entry for a short by looking at red arrows. You can see a nice profit goal here and if it break under the rising wedge then we have an even more profit. I wouldn’t enter long except where gray up arrow starts above resistance at price high. And if oil is to go up it first needs to consolidate to cool off for next leg up. So really I am only looking right now to enter short on oil if it hits my sell trigger.
Comments welcome. Thumbs up is extra welcome!
❤️ Miss Bunny
Oil is nearing upper black trendline. This is also the top of an parallel channel. This also means we are close to overbought.
You can see my entry for a short by looking at red arrows. You can see a nice profit goal here and if it break under the rising wedge then we have an even more profit. I wouldn’t enter long except where gray up arrow starts above resistance at price high. And if oil is to go up it first needs to consolidate to cool off for next leg up. So really I am only looking right now to enter short on oil if it hits my sell trigger.
Comments welcome. Thumbs up is extra welcome!
❤️ Miss Bunny
Trade closed: target reached:
I have hit my target. So this trade I will closing. I hope people who went with my idea make money to.
