TimStuyts
Short

USOil short follow up

FX:USOIL   CFDs on Crude Oil (WTI)
356 2 10
For my previous post regarding USOil             see link below:


I was looking for that last extension to finish and played the short set-up aggressively because of my overall view which I explained in the previous post. My stop loss is above the recent high and once (IF) we see a consolidation I will be looking to sell the continuation once more, after the bearish continuation I will move my stop loss to above the high of the consolidation (which has yet to start for a confirmation that the recent high really is a top).
4 hr             chart below:


Updates will follow once the consolidation starts, my target is still 40 and maybe even a new low from here to test 20.

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Comment: USOIL is continuing its move lower. We might see a more significant consolidation soon which will provide an opportunity to sell the continuation.
Comment:
Tim. It's been a roller-coaster but now we're at the bottom of the range so looking good for your short although I am actually long a little
Reply
TimStuyts TomPower
I had a quick look and I see it consolidating on daily which is not favorable for a potential move to 20 from here. However I can't spend a lot of time in the market at the moment but will be back trading, updating and posting as of next week. Safe trades.
Reply
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