I am long oil from current levels, as price is retesting the near term broken resistance, which might turn to a support now, in addition to the broken falling . Settling back below 75.80 may weaken this setup.
Best of luck. Join me at https://twitter.com/thefxchannel
Also at my Facebook page http://www.thefxchannel.com
My best regards,
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5) If 90 percent of first target is reached I move stop loss to breakeven.
6) If 90 percent of first target is reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game
Skype: Technician - The forex channel