OIL Short Setup
🔵 Entry Level: $82.95
🟢 Take Profit: $79.49 (2.22)
⛔ Stop Loss: $84.51
Reasoning:
1) Yesterday's trades went as planned, unfortunately, I wasn't behind my desk to assess the volume and take them, but If you did, good for you. We are approaching the middle trendline, so I expect a small retracement after that point.
2) I am also expecting a divergence to form somewhere around the entry level.
3) Stop Loss is pretty loose since I want to give the trade some space to breathe With that being said, bear in mind the spread and the weekend fees, which may eat up your profits.
🔵 Entry Level: $82.95
🟢 Take Profit: $79.49 (2.22)
⛔ Stop Loss: $84.51
Reasoning:
1) Yesterday's trades went as planned, unfortunately, I wasn't behind my desk to assess the volume and take them, but If you did, good for you. We are approaching the middle trendline, so I expect a small retracement after that point.
2) I am also expecting a divergence to form somewhere around the entry level.
3) Stop Loss is pretty loose since I want to give the trade some space to breathe With that being said, bear in mind the spread and the weekend fees, which may eat up your profits.