Oil has been in a consolidation mode, going nowere in the recent past. I´ll be looking for a trade opportunity in the short side. However this can last a few days/weeks so my plan is to play with 3 targets and reduce the risk if price trades in favour. I´ll look for a scalper, an intermediate and a long term target. My sell stop order is at 53.63 TP1 53.21 TP2 52.36 TP3 51.08 I am basing my entry´s/exists on the April futures contract so i do not know exactly if price matches the TV feed of WTI Crude OIL with the CME futures contract. Either way this is just for educational purposes
Trade closed: target reached
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TP1 ok. Then i moved SL to BE and i was stopped out. I plan to reenter the trade again but my sell stop order is at 53.59. I am looking for initial TP2 and TP 3 for profits