FX.co ★ Oil auction for 5000p

Trading idea for WTI oil.

As expected, the giant oil auction was terminated through the breakdown of the upper limit at the quote 41.7. The breakdown turned out to be false, so it is recommended to consider the following scenario for a decrease in the oil exchange rate:

On the way of falling oil, there is an intermediate goal for profit taking on the damage of 39.2:

On this quote, you can throw off part of the profit and transfer transactions to a positive "break-even."

The passage to the main goal of 36.4 is almost 5000p, which can provide an incredible return on this transaction.

The fundamental driver of this idea is the second wave of the pandemic and the slowdown in the global economy.

The trading idea is presented in the framework of the "Price Action" and "Stop Hunting" methods.