However, chart shows a decending triangle, and price is approaching the up in 4h time frame, and it migh be broken-down.
Low oil price also encourage household spending more due to low transportation costs. Think about global economy is slowing down plus high cost gasoline, it can be dangerous.
Thank you for your reading.
Note: This chart is for personal study.
Forcus on failures: why do this trade fail?
The AB line is key support line .
Order sell-stop in wrong place - only below 43.5 (stop above descending triangle support) if break below
and few other minor reasons.
So correct trade/best bet is enter at break-out with stop below descending triangle resistance if break above (only bad luck can kill the trade) - better follow text book
Note: this chart is for personal study ;)