WTI Sell Setup Profits, New Role Reversal Level | Jan 5

Verified Profitable Trader

WTI – Sell Setup Profits, New Role Reversal Level in Play (2hr chart)
On December 29th and earlier we talked about in the members commentary of selling WTI Oil between 53.50 – 54.45, looking to get short within this sell zone. As you can see from the chart below, this played out to perfection as price action went right into our sell zone, with the offers holding, and then sending it lower.

Any traders who got short on this would be up a heavy profit now and excellent risk:reward trade.

The commodity recently formed another role reversal level around 52.15 which I’d be open to short on a rally and up to 53.50 again. Downside targets are 50, 46.75 and potentially all the way down to 40.

wti

Also in our members trade setups commentary today, we cover the EURUSD, GBPUSD, USDCAD, S&P 500 & Dax 30. Click here to become a member.

Make sure to read my Message to Traders in 2015 & Trading Like A Sniper: What It Really Means.

Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.

Related Article