captain_smollett
Short

UKOIL. Sounds like a triangle...

FX:UKOIL   Crude Oil (Brent)
290 3 7
UKOIL             chart looks like a triangle inside a correction. Very whipsaw correction on oil             anyway....

I´m expecting oil             to test the lows of the day but bounce up on the US session. If the triangle is confirmed, it shouldn´t break up but head down again and break the entire correction limits by tomorrow. Probably, EIA             report will be a trigger same as on previous weeks.
Trade active: The last 4H candle looks like an impulse to me. Therefore, I expect the triangle to be broken to the upside and test the channel limits.

Entered long Brent at 47. SL: 46, TP: 49.45 as per Fibo extentions
Trade closed manually: Closed long earlier with a small benefit. I will not trade anymore inside the triangle.

Our levels to watch are 45.80 or 47.50. Once the price secures any of these levels, we can talk about entering long or short
Comment: Down down down....
Trade closed: target reached
snapshot


If Brent doesn´t break the triangle to the upper side, I´d expect a retrace by tomorrow or Friday.

Nevertheless, we have a strong support at 46 figures. Below this, next supposed target is 43-42 figures where 200 Daily MA lives
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captain_smollett PRO captain_smollett
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