USOIL why I am .. Good R:R plan
Hello everyone this is my idea for Crude Oil on daily time frame
Price is trading inside a possible channel ..
Price is respecting the channel so far .. we had a fake breakout due to volatile market = elections and Germany lockdown same time ..
which caused price to break channel but price managed to go back above the channel
The reason we went short .. is price is testing the upper line of the channel
RSI indicator break of the black line will support our idea
price is showing rejection and there is good R:R ..
I will talk about our entry and exist and target .. below
we can sell now which is close to the upper line of the channel ( red line )
we target green line ( lower line of the channel )
Our stop is daily candle close above red line ( upper line of the channel )
also I am a buyer from green line to target red line as long as ( no daily close below green line ) target red line
for any question feel free to ask :)
Price is trading inside a possible channel ..
Price is respecting the channel so far .. we had a fake breakout due to volatile market = elections and Germany lockdown same time ..
which caused price to break channel but price managed to go back above the channel
The reason we went short .. is price is testing the upper line of the channel
RSI indicator break of the black line will support our idea
price is showing rejection and there is good R:R ..
I will talk about our entry and exist and target .. below
we can sell now which is close to the upper line of the channel ( red line )
we target green line ( lower line of the channel )
Our stop is daily candle close above red line ( upper line of the channel )
also I am a buyer from green line to target red line as long as ( no daily close below green line ) target red line
for any question feel free to ask :)
but still short .. stop loss daily candle close above red line