There is a big chance of seeing a nice return in oil in the next days up to 64+ on UKOIL /Brent
over one day we had reached the blue mark at 58$ Brent and merged the contracts. it had spoiled-some the look, but in fact the idea works on the new contract as well, with a larger potential in terms of R/R value
I have put my stop at 57.2 on March contract (entry was at 57.3 March)
I am holding my long till 2hr closes below 57.2 and WTI holds 52.4
Trade closed: stop reached:
the position is closed following the stop, the idea was invalidated, but the up target is still there from a lower ground.