Oil is an an uptrend right now.
Hence, we can see 3 long positions on the chart.
Trade 1 is the riskiest trade of the three. It runs up to resistance on the daily chart.
Trade 2 is a moderate risk trade at perhaps a better entry price.
Trade 3 is the safest long and is about 1.4/1 R/R.
(T.P.) Take Profit = $54.13 (except trade 3 which would be $53.21).
Look for an entry reason - a buy signal before entering, good luck!
Hence, we can see 3 long positions on the chart.
Trade 1 is the riskiest trade of the three. It runs up to resistance on the daily chart.
Trade 2 is a moderate risk trade at perhaps a better entry price.
Trade 3 is the safest long and is about 1.4/1 R/R.
(T.P.) Take Profit = $54.13 (except trade 3 which would be $53.21).
Look for an entry reason - a buy signal before entering, good luck!
Note
Took the trade (trade 1version) in support with a double bottom buy signal & a green candle as a kicker showing momentum. partial T.P. is at $53.21.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.