After an extraordinary rally for $USOIL today the pair is approaching the top of an ascending wedge within which it has been trading for several weeks.
I'm planning on entering short at the top of this wedge and taking profit at the monthly pivot with a tight stop just above the monthly R1.
I feel this offers a great risk/reward but I would to hear anyone else's opinions this $USOIL trade.
I'm planning on entering short at the top of this wedge and taking profit at the monthly pivot with a tight stop just above the monthly R1.
I feel this offers a great risk/reward but I would to hear anyone else's opinions this $USOIL trade.