An update on my previous setup for oil, prices pulled back more than anticipated but this setup seems even more enticing for a big move down.
As always trade defensively and risk management is what makes profitable traders.
We can either see gold come down from close to these levels or make another push up before falling, I will be
going short into my buy zone.
As always, stay defensive and manage risk accordingly.
Hi Guys, this chart is showing that OIL is setting up for a significant move to the downside with an initial target of 40-38.5.
Watch for a break to the upside followed by a cracking move to the downside.
I will keep this trade and chart updated here.
As always trade with great defence and risk management.