NOTE : this trade is counter trendy, so leverage must be reduced to allow a wider stoploss. Also please note that for now the trading signal (step 3 of the strategy) isn't triggered on D1 timeframe. All I can see here is that the weekly context can be good to trigger some pullback trades and profit from those who lock on the previous gains by buying the 40$ area. Sinewave suggests that TP pattern is at play; momentum tends to confirm that the short term momentum is overbought. But this one also says that we could squeeze the momentum, meaning that if prices were to exit from the top and break out of the channel, this trade will have to be canceled.
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for any trade of oil u have to attention to iran sanctions by trumps .
and now trump asked to saudia to increase their oils upto 1milion more to decrease prices
and now trump asked to saudia to increase their oils upto 1milion more to decrease prices