Seemingly there is another fading short setup coming up. The chart is self-explanatory, the levels are given and for now the only thing left to do is wait until the major bear angle is reached and look for an entry with a price action confirmation.
Trade active:
Short @ 5195, a 70 tick stop @ 5265
Comment:
1R @ 5125, 2R @ 5055 & 3R @ 4985
Comment:
Limit buy order to close 1/2 @ 5125, a 1R return
Trade closed manually:
Closed with 0.14R loss @ 5205
Comment:
USOIL 1H Follow Up
The next minor and major angle added and the range adapted accordingly
Comment:
Limit sell order @ 5255, a 70 tick stop @ 5325
Comment:
Price turned @ 5250, 5 ticks away from the limit sell, by now 1R target would be achieved. But there’s no haste as there are a lot of opportunities ahead.
Comment:
USOIL 1H
The aftermath
Order cancelled:
Limit sell order cancelled