Crude Oil (USOUSD MT5) - SELL - 24th May 2022




Crude Oil (USOUSD MT5) - SELL - 24th May 2022 (Closed)


Afternoon team,

If you have been reading the technical analysis tab (Crude oil) you would have known we have been watching crude oil for a short trade opportunity. This is possibly a huge set-up, but we will look to take things down in stages and build into a position over the next week.

Crude Oil – Weekly Chart

All indicators are moving lower, there is about to be a cross over to the downside on the weekly MACD which is a very strong sell signal.

Crude Oil 1 Hour Chart

Bear flag structure, and possibly an ABC corrective rally into the 61% FIB retracement. There has been a 5 wave decline and a counter-trend rally and a bear flag breakdown on the shorter time frame. This is providing the green light to enter the position. Currently, pricing on MT5 providers and Tradingview is different. Ensure your stop loss is above the most recent swing high.

Crude Oil MT5 (Focus Markets)

Trade Setup (Tradingview pricing) Sell market execution, current price 108.95, stop loss 111.95 and take profit 92.95

Trade Setup (MT5, Focus Markets) Sell market execution, current price 111.39, stop loss 114.39 and take profit 94.39

Stop loss: 300 pips

Take profit: 1600 pips

 

 

Trade Setup
SELL - Market Execution

Entry
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Take Profit
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Stop Loss
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