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Crude Oil Trading Idea

Posted on Jul 13th, 2016

by colibritrader

Crude Oil Trading Idea

A short brief on USD/CAD and Crude Oil

by: Colibri Trader

Dear Traders,
The trading signal from last time did almost reach the first price target. It was an almost perfect trade, but now unfortunately it does not seem that great anymore. The move seems to have exhausted itself for the time being. I have closed half of my positions and letting the rest run. I might re-consider re-entering this trade at a later stage. For now, I believe that the trade of the day has a better potential for realising profit.
The trade of the day is a short Crude Oil. I am considering a short-medium term bearish move. We had an inside bar candle on the daily timeframe bouncing off the minor resistance area at 47.00. I am looking to go short at around 45.00. My initial price target is the level of 42.00. My stop loss will be placed just above 46.00.

Happy Trading,

Colibri Trader

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