this is a followupw to yesterdays idea in usoil - link below. I just like the overall ratios a bit better on ukoil for this trade so posting it here.
setup is pretty clear. we started a downsequene based around the doubletop and im now looking for possible continuation to the downside.
this wont be a major dropoff in oil, i dont think, but you can still make some profits.
i will be selling recent resistance with stops above the most recent (small) swing. if we cant make it up there but instead make new lows for the day i will be tryin to hope on as quickly as possible if we can see followthrough.
setup is pretty clear. we started a downsequene based around the doubletop and im now looking for possible continuation to the downside.
this wont be a major dropoff in oil, i dont think, but you can still make some profits.
i will be selling recent resistance with stops above the most recent (small) swing. if we cant make it up there but instead make new lows for the day i will be tryin to hope on as quickly as possible if we can see followthrough.
for the second half i see if we can come down into the 39-40 area based on the overall picture