Dear Crude Oil Trading Idea traders

The trading idea from last time is still active. Our stop is staying intact and I am not considering adding or removing from this trade. I am just looking at the price actin that is really hesitant and this could be a good or a bad sign. Anyways, I am not going to do anything with this trade until the market proves me right or wrong.

Today’s trading idea is coming from an unconventional place. I am looking at Crude Oil and its bullishness. Despite the huge jump in recent times, I believe that we have more bullishness to experience in this crude oil trading idea. We are staying just below a strong resistance area around the psychological level of 50.00. That is where I am target, as well. I am seeing two consecutive pin bars in an uptrend market. I will be looking to enter in a long trade at around 48.00. My stop loss would be placed just under 46.60. My initial target is the level of 50.00. Depending on price action around this level, I will be targeting the next level- 55.00.

Happy Trading,

Colibri Trader