USOIL : Trade Using Band of Midas
1. Clear all drawings and indicators.
2. A horizontal resistance level, observe if price reversed at here (React Don't Predict).
3. Add BandofMidas from indicators. Use Midas factor of 9.( suitable for this chart)
4. Price fall into Midas zone and reversed. Midas signal came out on 19Sep2023. Go Short.
5. Midas trend line still in pink. Take 50% profit at midas line, keep the other 50% position waiting the trend line turn white OR hit bottom midas zone.
(Still an uptrend, this should be a profit taking area instead of going big short)
6. Plan your trade, risk reward ratio and position size.
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