This one is for those breakout traders. Looks like WTI wants to break out of this downward trendline. If it does there is two setups I would take, one with a conservative TP at $23.4, and one much more of a swing type TP that might have to be held for a prolonged time at $28. An aggressive entry would be with any kind of trendline break around the $19.7 - $20.3 range. A more conservative entry would be to wait for a 4H close above trendline and stack limits down to the trendline for the retest. To each their own, follow your rules and manage risk.
Comment:
Breakout is looking very good. First take profit hit and second one rapidly approaching. With June contracts ending it's a good place to take more off if you don't want to hold during the pullback.
Trade closed: target reached:
Take Profit 2 hit, great trade.