Short setup in Crude on the daily chart

Reasons for the trade:

1) Location: In the 'sweet spot' of the RLZ
2) Indicator confirmation:
a) MACD Divergence
b) Willy crossed from an embedded state
3) Structure : Shooting star formation, watching for additional structure.

Lower risk to the top of previous high, for a 4:1 RR or better.
A risk to the top of the RLZ is also reasonable for a potential 2.5 or RR

I welcome any feedback

Yorum:

At lest partial profit to be taken at 38.2 & 50% Levels