mechanicfx

Long BCO on possible pullback when the market opens

Long
mechanicfx Updated   
OANDA:BCOUSD   Brent Crude Oil
Brent has been on the run lately and is about to hit a major resistance. Regardless whether it will break the resistance or not the market open might present a short term opportunity.
My model suggests that a short term reversal to around 66.42 presents a good opportunity to enter a long until the 67.8 line with favourable risk/reward. I will be using this entry until mid New York Session on Monday, if the pullback did not occur until then the opportunity did not materialize for my system.
Trade closed: target reached:
Kind of a late update. Target reached mid last week

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