USOIL turning points

Updated

USOIL have started a free fall, buying levels are on the chart, for me no buy above 40, as extreme downside this chart can go to 34 or 29 later
And I am waiting for a good short around 47-49 area, depending on the 4H chart if it goes there.

Comment

A very small long pending order @42.90 with SL @42.10 hunting the pull back to @47-49 where the larger shorts are waiting.

Trade active

The long pending order opened @42.90 and the well calculated SL@42.10 was not hit (10% luck as it was falling from @51.85 and just stopped @42.19)

A detailed update on USOIL is posted earlier today showing the key levels and the expected short/long levels on the 1H chart.

P.S.
A million dollar hint on the USOIL, it mostly move in THREEs.
Which means:
-falling from 51's means most likely will stop 42's which are three threes
-then long from 42's to 45's, and the price stopped.
-if the long target is 47's means expect pullback to 44's to add longs
-extenden long target to 49's means add longs on the 46's retest. also means that the longterm short target will be @40's and extreemly to 37's (37's is way too far)
-expecting the long term short to 38's means the price should only go to the 47's level, then makes its three threes down to 38's

and so on

Good luck

Comment

Going to 80's ?!

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