Even though we still holding the long (see linked idea) we have come up into a cluster of resistance which has provided a shorting opportunity. Oil is very over bought on the 4H and daily charts and has moved into a rather large resistance area.
Im shorting at weekly R1 at 56.56 with stops above 58. targets at 54.66.
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Missed Target 1 by a few ticks. moving stops to break even now. Nice trade so far.
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Hit both targets on Oil. NICE!!!
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jojofang0901
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Nice trade setup, thank you for sharing your view on this. I have same idea as well.
alectrade1
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@jojofang0901, Hey JoJo. Thanks so very much for the comment. Sorry for the late reply, i have been away on holiday the past few days. But i see the trade is working out really well so far. Good luck. And thanks again for the comment.