WTI. Upcoming short

16 Nov 2019

Hi all. Here’s my view on oil. We’re getting close to the 0.618 zone which is also aligning with the channel. I’ll be looking at shorts here on a lower TF if we reject. As you can see when oil goes it can go quite fast. If you do get into the trade and it goes down you can look at TPs at the bottom of the channel. Breaking 50 has been quite hard with 3 attempts already. This trade setup has a 1/4.5 R/R. As always oil is more volatile than FX so manage your risk accordingly.