From TradingView · · 40s
Oil Short Setup with 1:5 Risk Reward Ratio
Oil short trade setup with 1:5 risk reward ratio on 4H chart for CAPITALCOM:UKOIL.
In brief
Oil short trade setup with 1:5 risk reward ratio on 4H chart for CAPITALCOM:UKOIL. Oil price reached a supply zone with potential deep correction as bearish Change of Character signal indicates downward shift. Originally reported by TradingView.
Oil Supply Zone Signal
Oil reached significant supply zone with potential deep correction from this area.
Bearish Change of Character
Price formed bearish Change of Character indicating potential market structure shift to downside.
Risk Management Strategy
Take partial profits at each target with larger capture from third target onward while managing risk.
The key point
Oil price reached a supply zone with potential deep correction as bearish Change of Character signal indicates downward shift.
