USOIL. Bearish Butterfly forming at key resistance

Looks like there will be one more leg up for oil. It tried to break a key resistance this morning and failed for now. I will open a long position at 47, targeting 48.60, with SL below at 46.50.

I also expect a rebound in EURUSD and then will join shorts again

Comment:

Just to add that. after my long target is reached, I will take a short at 48.60 with a SL above 50 and first target at 45

Trade active:

Didn´t want to go to 47 so I opened a long position at 47.25. I will probably end giving these 25 pips to the market later but as soon as it gets to my 48.60 target, I´m happy

Trade active:

Oil long to breakeven. Closing long at 47.25, leaving only one long I added at 47.05. Beware of Inventories in 1 hour. Can go down, take all stops and shorts and bring them up

Trade closed manually:

Pattern invalidated. Longs closed at breakeven. Waiting now...