Zostať 
Podmienky obchodovania
Nástroje
OPEC is ready to open taps. According to leaks, members will increase production volumes at the meeting today. Saudi Arabia may also end its additional 1 million bpd production cut.
Of course, all this will lead to changes in oil prices, which, to date, is trading at $ 62 a barrel. That said, the best action is to short oil, the strategy for which is presented below:
Since quotes have formed a wave pattern (ABC), where wave A is the bearish initiative observed since last week, traders should open short positions from $ 62, in order to see a 50% retracement. Place limit at $ 63.5, and take profit as soon as the price breaks through $ 58.5.
But in case of a false breakout (at $ 64), open short positions on a smaller scale, but with the same target ($ 58.5).
This plan is under the Price Action and Stop Hunting methods.
Good luck!
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
