USOIL - Short Trade Idea (26th Sept 2024)
This is my analysis on USOIL.
So, what my eye catches is the ascending sellside trendline liquidity being build up. We have a recent touch on it, retracing into a weekly SIBI. Based on this, I am anticipating us trade quickly down into a monthly BISI as my initial target.
The stoploss I set is based on the current swing high. A wider stoploss could be adopted to weather any sort of wick damage happening during high impact news.
Let's see how this plays out.
- R2F
So, what my eye catches is the ascending sellside trendline liquidity being build up. We have a recent touch on it, retracing into a weekly SIBI. Based on this, I am anticipating us trade quickly down into a monthly BISI as my initial target.
The stoploss I set is based on the current swing high. A wider stoploss could be adopted to weather any sort of wick damage happening during high impact news.
Let's see how this plays out.
- R2F
Note
Still confident on the direction, but we may make another high to take out a short-term high where my stoploss is. If stopped out, will be waiting for confirmation back to the downside. Looking at 73.3 and 74.4 as possible areas it may reach to.
R2F
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Telegram: @TradinGGrace
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