this is a followupw to yesterdays idea in usoil - link below. I just like the overall ratios a bit better on ukoil for this trade so posting it here.
setup is pretty clear. we started a downsequene based around the doubletop and im now looking for possible continuation to the downside.
this wont be a major dropoff in oil, i dont think, but you can still make some profits.
i will be selling recent resistance with stops above the most recent (small) swing. if we cant make it up there but instead make new lows for the day i will be tryin to hope on as quickly as possible if we can see followthrough.
setup is pretty clear. we started a downsequene based around the doubletop and im now looking for possible continuation to the downside.
this wont be a major dropoff in oil, i dont think, but you can still make some profits.
i will be selling recent resistance with stops above the most recent (small) swing. if we cant make it up there but instead make new lows for the day i will be tryin to hope on as quickly as possible if we can see followthrough.
Note
just took half off. since we coming into an area of abcd/harmonic/fibonacci confluence. for the second half i see if we can come down into the 39-40 area based on the overall picture
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.