USOIL-BUY strategyFor now I feel we have reached the first move lower, but am noting that a clear break of $ 104.50 area will invite $ 90-95 short-term.
The topping formation is well define, and we have corrected nicely from $ 128 highs.
Strategy is BUY $ current $ 105.50-106.00 and place stop-loss $ 102 and buy again $ 95-97 when seen. Profit order $ 120-125 for now.
Usoilbuy
USOIL-BUY strategyFor now took back at $ 106 the balance of my position with average $ 128( rounded).
The shape of the daily chart suggest we may see upside potential. The strategy is likely a buy but am not 100% convinced as yet.
However, in terms of analysis I see BUY current $ 105-106.50 as the thing to do right now. I am not committing as yet personally. The stop-loss should be around $ 98 and profit order $ 117 for now.
USOIL-Buy strategyOil is moving higher, and the pattern shows we may see $ 78.00/barrel coming weeks.
We have good support $68 handle. The stochastic is not confirmed yet, but MACD shows we are on the up move now.
Strategy is BUY current level $ 73-74 fr a break of $ 78 resistance. I think we may see $85-88 range. Stop-loss below $68.
USOIL New Setup And Analysis 400 Pips This is an educational + analytic content that will teach why and how to enter a trade
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USOIL LongMy view of USOIL . Potential long opportunity.
I am a bit late with this idea and it’s a bit minimalistic and quick but it will hopefully do. After a pullback down to our PBA 1 and respecting the consolidation area , I’m expecting the price to come back up to the top of the consolidation area . Double bottom on 4H is also confirming the long idea. After a clear break of the consolidation area we can expect another upside move. Entry is at 81.898 . Stop Loss is below current low and below a possible pullback area . Stop Loss is at 80.547 . TP is at 86.660 . Overall we are in a uptrend and without breaking the uptrend structure , we will keep looking for buys at pullback areas . If we don’t come down to our entry, take a smaller position due to risk being higher.
Keep in mind prices may vary from broker to broker.
PARAMETERS
- Entry: 81.898
- SL: 80.547
- TP: 86.660
KEY NOTES
- Overall we are in a uptrend and without breaking the uptrend structure , we will keep looking for buys at pullback areas.
- Respecting the consolidation area
- 4H double bottom confirmation
Happy trading!
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