DLavrov
Short

Trading Idea for Crude Oil

FX:UKOIL   CFDs on Crude Oil (Brent)
Oil
173 0 5
oil
We have up trend. Price was stopped near resistance level 51 and it looks like that bulls have no power for pushing price higher. DMI indicator confirms that we don't have strong up movement. So, how to trade? I offer just my view. My trading idea is: open short trades using 1H and 4H charts with target near Moving Averages 100. If price reverses from MA 100 open long trades with targets around resistance level 51. If price breaks MA100, open short trades with targets near support level 38. I use support and resistance levels based on round digits. These levels are good for placing take-profit orders. If short trades are profitable and we reached targets, we'll think about possible long or short trades based on price action near support level 44 and Moving Average.
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