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Fxprotrader
Oct 19, 2016 5:49 AM

CrudeOIL: Bearish Cypher Pattern Completion Short

Crude Oil (WTI)FXCM

Description

In my previous post on crude oil i described a potential buy setup which never triggered with price still being in a correction. Looking now at the hourly chart we may see that price having reached a parallel of a median line set has completed a bearish cypher pattern which is a good opportunity. Sl and tp as shown at the chart. If price reaches the first target we may move sl at breakeven for a second risk free trade.
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