Crude Oil Short Setup
Actualizado
Hello all!
I have a potential setup for you this morning in Crude Oil on the 4 hour chart.
Crude Oil has made a potentially significant move to the downside (as evidenced by the new momentum low on the MACD, and the puncture of the lower keltner channel). Price has been consolidating since, and has retraced approximately 40%, as of the time of writing.
We will be interested in entering short on a breakdown of this consolidation. If this trade is triggered, I will be taking partial profits at the pivot low of the trend leg - my stop loss will be located above the pivot high of the consolidation leg.
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Remember, only use this trade idea in line with YOUR OWN trading strategy. This is the bare bones of an idea that should only be implemented in conjunction with your own trading system.
Also, PLEASE KEEP IN MIND that the US will release their data concerning crude oil inventories in about an hour from now. This may cause significant volatility in the market and whiplashes can occur. The ongoing US-Iran tensions are also a major factor to keep in mind when trading Crude oil as any developments cause lead to unpredictable price fluctuations.
Happy trading!
I have a potential setup for you this morning in Crude Oil on the 4 hour chart.
Crude Oil has made a potentially significant move to the downside (as evidenced by the new momentum low on the MACD, and the puncture of the lower keltner channel). Price has been consolidating since, and has retraced approximately 40%, as of the time of writing.
We will be interested in entering short on a breakdown of this consolidation. If this trade is triggered, I will be taking partial profits at the pivot low of the trend leg - my stop loss will be located above the pivot high of the consolidation leg.
______________________
Remember, only use this trade idea in line with YOUR OWN trading strategy. This is the bare bones of an idea that should only be implemented in conjunction with your own trading system.
Also, PLEASE KEEP IN MIND that the US will release their data concerning crude oil inventories in about an hour from now. This may cause significant volatility in the market and whiplashes can occur. The ongoing US-Iran tensions are also a major factor to keep in mind when trading Crude oil as any developments cause lead to unpredictable price fluctuations.
Happy trading!
Operación activa
The bear flag consolidation appears to be breaking down. You may already be in this trade, or may still be waiting for more confirming downside momentum.Nota
As I mentioned earlier, the global issues surrounding the tensions between the US and Iran may have an effect upon the price of Crude Oil, which may lead to unpredictable fluctuations. Keeping this in mind, do not be greedy with this trade, and keep your stops tight and take profits where appropriate.Operación cerrada: objetivo alcanzado
You could take partial profits now that price is at the pivot low of the trend leg. Also, now is the time to tighten your stop loss or to use a trailing stop to ensure some profits are taken.Operación activa
Firstly, it is entirely reasonable to have taken full profits at this point, or at least closed out half your position.For those of you still in this trade, price has been consolidating once again, and could make another move to the downside.
It is recommended however, that stops are tightened to the break even point, and any upward momentum would make me exit this trade.
Operación cerrada: objetivo alcanzado
Now that price has made a second downward move, it would be reasonable to close out the position and take profits all profits earned.
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