As we see, the oil is very close to resistance level of 82,0 until 83,50. A divergence has formed which is a sign of weakness.
As soon as we see that the price bounces back from the resistance we can place a short order with SL the highs of the structure and TP 74,0.
We are looking at 1:5 RR which is very good risk to reward.
In case we brake the resistance level we look for a different scenario.
Your comments and support are more than welcome!
As soon as we see that the price bounces back from the resistance we can place a short order with SL the highs of the structure and TP 74,0.
We are looking at 1:5 RR which is very good risk to reward.
In case we brake the resistance level we look for a different scenario.
Your comments and support are more than welcome!
Trade closed: stop reached
