WTI Bearish Divergence

FX:USOIL   CFDs on Crude Oil (WTI)
The trading idea is based on a bearish divergence which is still relevant. The price diverged with RSI and it gave us a trend reversal signal. After that we can see the market moving in a narrow range. We can try to catch a possible correction movement and make some profit. It's a high risk trade, because DMI confirms strong upward movement, but small stop size and good risk/reward ratio allows selling. Also MACD lines support downward movement. Pending orders for sell should be placed at 56.80 with stop at 57.70 level. Profit target is 55.10 level. If the price moves above 57.50 resistance level without activation sell orders, we'll have to delete these orders and wait for a new trading opportunity.
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very good
+1 Reply
I love trading USOIL, I am glad you do analysis and ideas for it too... thanks!
@utvsv, this market will be interesting for great short trades. I mean long term trading.
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