BRENT has no choice!!
🟢 BRENT has no choice!!
BRENT is trading calmly amid the international volatility, this is a rare situation and the market is narrowing more and more.
✅ What pattern is unfolding in FANG?
Many patterns are unfolding together, but the most inmediate is a small triangle that will bring us some volatility once it is broken.
💰 How to trade this chart pattern?
We have multiple important supports near the price, meaning that even if the triangle breaks downwards, shorting BRENT is not a good idea right now. It's very difficult to set up a realistic TP with a tight stop loss, as we could easily see a false breakout.
Buying if the triangle breaks upwards makes more sense. A 4 to 8% profit is quite achievable, and with the correct risk management strategy, this could be a decent trade.
🛡️ The risk management strategy
As we have done in so many previous ideas, remember you can split the position in 2.
- 50% of the position in a take profits, at least, as large as your stop loss (adapt SL and this 1st TP to local supports/resistance levels). In this case, a 3% TP for 2% SL (see the chart)
- 50% of the position to a price as large as the previous pattern, which would mean a profit of 8%.
This is a difficult market to be traded right now, hope this helps!
✴️ ENJOY AND FOLLOW for more 😊
BRENT is trading calmly amid the international volatility, this is a rare situation and the market is narrowing more and more.✅ What pattern is unfolding in FANG?
Many patterns are unfolding together, but the most inmediate is a small triangle that will bring us some volatility once it is broken.
💰 How to trade this chart pattern?
We have multiple important supports near the price, meaning that even if the triangle breaks downwards, shorting BRENT is not a good idea right now. It's very difficult to set up a realistic TP with a tight stop loss, as we could easily see a false breakout.
Buying if the triangle breaks upwards makes more sense. A 4 to 8% profit is quite achievable, and with the correct risk management strategy, this could be a decent trade.
🛡️ The risk management strategy
As we have done in so many previous ideas, remember you can split the position in 2.
- 50% of the position in a take profits, at least, as large as your stop loss (adapt SL and this 1st TP to local supports/resistance levels). In this case, a 3% TP for 2% SL (see the chart)
- 50% of the position to a price as large as the previous pattern, which would mean a profit of 8%.
This is a difficult market to be traded right now, hope this helps!
✴️ ENJOY AND FOLLOW for more 😊
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