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magnans
Sep 2, 2015 2:57 PM

H&S in 15min on WTI Short

Crude Oil (WTI)FXCM

Description

1st Target around 42
2nd target 40

*CRUDE OIL INVENTORIES ROSE 4.67 MLN BARRELS, EIA SAYS


More than expected
Comments
wayne7
now what?
magnans
Now nothing.. Time to pass on something else, did not work... (was a 15min chart, so if it does not work on the next two hours... not good..)
Market_Masta
curious how you determined your targets?
magnans
Usually I take the distance from top of the head to the neck line. Then I report it and take the same distance from the neck line to the target. I was a bit lazy on this one.. :)
My confirmation point was the neck line then, if it stay below I move my stop loss just above the neck line.
I always try to have a Risk/Ratio > 2.

However this was a lose trade... :)
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