Reverse Flag Short Term Buying Opportunity

Right now we are following a nice upward reverse flag pattern. Once the pattern completes I expect the price to continue upward to a major resistance level around 108.600. The pattern is close to support right now and if it breaks will continue down and Kiss the 200 EMA around the 107.00 mark. The trend has been in place since March 25th and with trade war term oils cooling for the moment the US should make up some ground over the next few weeks.

Entry 107.100
STOP 106.966
Profit 107.800

We can make multiple short term trades buying and selling at support and resistance lines.

Comment:

Set up is starting to take place faster than I thought. Still expecting to continue down to the 200 EMA around 107.100

Trade closed: target reached:

We have just had a BUY Signal on the 1H MACCD. I entered Trade at 107.050 with 10K. With buy signal i would enter this trade at the end of the next pull back.

Good luck

Comment:

Sorry trade was not closed I meant to put "TARGET CLOSE"