Our first take profit target is hit!
We have now closed half the position and will look for continuation of trend.
I will update analysis when we have more information available.
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ORIGINAL TRADE IDEA BELOW
ENTRY : $59.300
STOP LOSS : $60.300
FIRST TAKE PROFIT : $58.480
RISK : 1% CAPITAL
Once first take profit target is hit i will close half the position. We will then look for continues of trend. As we have more information i will follow up with an analysis on remaining open position.
Please feel free to comment and discuss.
If you like this idea or traded it...
Hello Fellow Traders, Here is a Full Updated Analysis on XTIUSD.
The Best way to follow my Analysis is if the following conditions apply.
1. Wait for the Market to Show you some Rejection / Confirmation / Direction
2.Wait for confirmation(Price Action Confirmation Aka . Pinbar , Bullish engulfing / Break of structure Aka Support Or Resistance)
Finally after sideways consolidation for a few days, Crude oil broke out yesterday. And this open the new region to be claimed by buyers.
So, let us enjoy this bullish movement and get harvest with buyers.
After broke out 49.2, crude oil only took a little time to go under a shallow correction and then make a quick rebound near the new support. And become stronger now. So, the momentum of bulls so strong, making a high possibility the market will test near resistance 54.5 soon. And of course, it is also possible that the breaking out again happen and market will go...