Short Idea in Crude Oil
Entry at 88 - now Wednesday night
Target: 84
Stop Loss: 91.50
Conditions for this trade:
Waning momentum, it looks like crude is getting tired as it is going up at a slower pace
Collision with its respective moving average: on here we have it set for the 50-period EMA
Event risk of news resolving the issues at hand that provided for a catalyst in oil; lack of fuel to the fire
The risk/reward ratio for taking this trading in crude oil futures is appropriate, it would make sense to keep the trade running if oil continues to drop
Target: 84
Stop Loss: 91.50
Conditions for this trade:
Waning momentum, it looks like crude is getting tired as it is going up at a slower pace
Collision with its respective moving average: on here we have it set for the 50-period EMA
Event risk of news resolving the issues at hand that provided for a catalyst in oil; lack of fuel to the fire
The risk/reward ratio for taking this trading in crude oil futures is appropriate, it would make sense to keep the trade running if oil continues to drop
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