Petr Suchanek
Short

Crude Oil short setup

FX:USOIL   Crude Oil (WTI)
122 1 1
Since the Crude Oil             has been choppy below an important resistance (watch the daily chart ), I have been looking for an opportunity to go short. Now it seems a nice topping action as a false-break of prior swing could be the right signal for short entry. Currently I am in a profit and waiting for the target at the 61.8 Fibo of the prior swing.

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Ok, the setup worked out nicely and I succeed to take a nice profit. Now it is very probable that the price will retrace higher (I expect at least to 102.6 or even back to 103.6 which would be a very nice area for a potential short setup again). Follow my next chart I will publish in a few minutes.
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