Oil is retesting a support (previously a resistance) and it's in a second attempt to break it.
However, it's also at a volume zone, meaning could be strong buying pressure. I'll be entering a long position there:
- Open position at 83.05
- SL 1 ATR below local low at 77.82
- TP at previos high at 123.34
- Squeeze finishing it's downward movement that has no strength from ADX
Fundamentally, I think is algo going up bc OPEC is halting extraction and other geopolitical news.
However, it's also at a volume zone, meaning could be strong buying pressure. I'll be entering a long position there:
- Open position at 83.05
- SL 1 ATR below local low at 77.82
- TP at previos high at 123.34
- Squeeze finishing it's downward movement that has no strength from ADX
Fundamentally, I think is algo going up bc OPEC is halting extraction and other geopolitical news.
Trade closed: stop reached
USOIL Keeps going down. Reached SL
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.
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.