UKOIL Short opportunity

FX:UKOIL   CFDs on Crude Oil (Brent)
60 0 1
Really good setup supported by the big timeframes. Break and retest of TL in the weekly time frame, with last week being a high test off a resistance level .
Daily chart showing a break and retest of TL which also happens to be a perfect H&SH formation with price already making LHs and LLs. Then we have a break of the counter TL in a Evening start formation with a massive bearish candle off the 0618 fib.

The path of least resistance is to the downside but there is only one level we need to be aware of, which is the 44. this level being teh 0382 fib retracement level from previous weekly wave. A rejection of that level would make me move my stop to pass break even
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out