Charlieab94
Short

USOIL Short Trade - Intraday & Swing *Double Set Up*

OANDA:WTICOUSD   West Texas Oil
US Oil rejecting the key resistance zone at $57.50 which is a 3rd touch at this zone. Nice deceleration on the 1hr timeframe

By simply buying low and selling high, this set up seems pretty simple. We did see a 4hr lower low on Friday so excluding any complications, Oil may continue to drop off in to the low 50's over the week.

Stop loss is comfortably above the previous highs and out of this resistance zone .
Trade active
Comment: Entry on the bearish engulfing 1hr candle and deceleration at the key resistance zone.
Trade closed: stop reached
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