Short US oil here head and shoulders

As shown in chart.

Very overbought, everyone thinks oils just going to keep going up. I don't think so.

I'm taking the short with lower high on the chart. I'll take some profits at the neckline breakout if it comes in case of a fakeout. Lots of potential though to move down to the green support line for further profits.

Enter as always before breakouts not after to minimise risk

Trade chiuso: stop raggiunto:

Stopped out on this one with breach of right neckline. All markets going big bull today, oil gets dragged up to. Maybe re-vist if right shoulder still forms a lower high

Trade attivo:

Lower right shoulder

Commento:

Close trade soon on break of neckline for nice profit

Trade chiuso: obiettivo raggiunto:

Another nice trade closed on breakout as expected, hope you all profited.