Hi traders,
On the USOIL we can see that it made a huge downwards impuls. Now I'm looking for a retracement or correction back to either the 38.2% Fibonacci retracement or the 61.8% Fibonacci retracement and enter short from there.
-----Trade 1 [38.2% Fibonacci retracement]-----
Entry: 53.29
Stop: 53.67
Target: 52.32 = R:RR 2.55
-----Trade 2 [61.8% Fibonacci retracement]-----
Entry: 54.01
Stop: 54.45
Target 1: 53.05 = R:RR 2.20
Target 2: 52.32 = R:RR 3.86
Good luck guys! Updates will follow.
On the USOIL we can see that it made a huge downwards impuls. Now I'm looking for a retracement or correction back to either the 38.2% Fibonacci retracement or the 61.8% Fibonacci retracement and enter short from there.
-----Trade 1 [38.2% Fibonacci retracement]-----
Entry: 53.29
Stop: 53.67
Target: 52.32 = R:RR 2.55
-----Trade 2 [61.8% Fibonacci retracement]-----
Entry: 54.01
Stop: 54.45
Target 1: 53.05 = R:RR 2.20
Target 2: 52.32 = R:RR 3.86
Good luck guys! Updates will follow.
Trade active
Note
Target 1 of Trade 2 was hit. Moving stop to breakeven.Trade closed: stop reached
Small profit made.
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Related publications
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.