Short Trade Crude Oil - 4hr Double Top and 61.8 Retracement.

10 Ağu 2016

Market Conditions:
Downtrending market. Long bearish move without any real pullbacks before now. Double top + daily spinning top at 61.8 retracement.

Stops and Targets
Stops at 44.99 above the 78.6 retracement.
Target at 37.45 - just shy of the 1.27 extension.

Let's see how this plays out - this is my first "public" idea here at Tradingview and yes, I know we have news this afternoon.

Remember it is just my personal view.

15 Ağu 2016

Not

Stopped out. Technically it was a perfect trade, however, fundamental intervention distorted the picture. Perhaps we are seing a great short opportunity right at the stop level.