It has now breached the bullish trend line and we are shorting at the time of writing this post.
Profit target would be 20.81 area. SL at 23.90 just above the bullish trend line. No need to place any higher as if the price does return back to the bullish trend line, it is more likely to go up and will take you out despite your wider SL.
Yes, of course, there could be fake breakout and all which is hard to know in advance , just follow the rules.
Let's see if the global equities market will follow the lead of Oil
Profit target would be 20.81 area. SL at 23.90 just above the bullish trend line. No need to place any higher as if the price does return back to the bullish trend line, it is more likely to go up and will take you out despite your wider SL.
Yes, of course, there could be fake breakout and all which is hard to know in advance , just follow the rules.
Let's see if the global equities market will follow the lead of Oil
Comment:
Praise Lord. once again, we are rewarded.