After hitting the lows yesterday, my opinion is that crude oil will once again hit 64 at point B before going down to C before a last leg up into 64 at point D and then back down again. You may take C and D trades, which is an opportunity for buy & short if B plays out. Please not that targets aren't always going to be on point, it may go slight higher or slightly lower and this is an opinion of what i think the market might do. TPs may very well extend much more lower than my targets but those are my targets.
DISCLAIMER
Please note that this chart is an opinion based chart only. Please trade at your own risk
DISCLAIMER
Please note that this chart is an opinion based chart only. Please trade at your own risk
Comment:
I usually set my TP lower than the points charted. I have now closed profit on target B from point A
Comment:
B target has been hit, it may go up a bit further or go down from here. Enter and exit at your own risk
Comment:
Ok, so we went further up but I knew this was a possibility, here's my new take
I would put a SL at 64.51 if you're taking the B trade down to C
I would put a SL at 64.51 if you're taking the B trade down to C
Trade closed manually:
This is forming a different pattern that previously thought. Chart invalid