Seemingly oil has run into the supply area via profit booking. The traders are reducing short risk exposure and are likely to enter for continuation on a pullback. The fading short setup looks valid at this point. However, in the context of the recent price action, the probability of this trade is not the best that we could have.
Trade closed: target reached
Trade active
CLX9 10H Trade closed: target reached
Booked @ 6148Note
≈5R return on these two trades
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.