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Nuno_Nascimento
Apr 12, 2017 6:43 AM

OIl Short

WTI CRUDE OILTVC

Description

Looking again to short oil
I found an harmonic tree drive pattern that just completed around the important daily resistance.
Also rsi is in bearish divergency with price and trading in a wedge that will break more sooner then later.
I placed a sell stop order at 53.36
TP1 52.68
TP2 52.04
This trade offers a good risk reward ratio
If price moves in favour +10 ticks i´ll use a 20 tick trail stop
If prices moves in favour +50 ticks than i´ll use a 40 tick trail stop

Trade active

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TP1 reached
I now have a 40 tick trail stop

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I just add a new short position ti this trade

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A small update - trade is looking good

Trade closed: target reached

Comments
Nuno_Nascimento
I will add a position at 52.97
jojofang0901
Lovely trade setup, thank you very much for sharing your idea. I have similar view on this as well.
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