Observation- Possible Long Opportunity.
Updated
USOIL I have dedicated this entire week observing its action. And why its moving as it has.
47.34 is a strong support field. Consolidation was observed for some time. The aggressive bullish activity has shot the price; back into the consolidation field where it previously was comfortable in consolidation for some time. So First selloff in (about 96days)
As illustrated in this idea. USOIL - .382(50.00) broken price action exhausts. Uses F.382 From previous resistance as new support. Now making its way to the F.50 if price action exhausts and closes above F.50 im looking to get Long to the F.618
Entry- 51.00
TP- 51.84
SL 50.43
47.34 is a strong support field. Consolidation was observed for some time. The aggressive bullish activity has shot the price; back into the consolidation field where it previously was comfortable in consolidation for some time. So First selloff in (about 96days)
As illustrated in this idea. USOIL - .382(50.00) broken price action exhausts. Uses F.382 From previous resistance as new support. Now making its way to the F.50 if price action exhausts and closes above F.50 im looking to get Long to the F.618
Entry- 51.00
TP- 51.84
SL 50.43
Note
Didnt happen exactly as planned. But it pulled back. And would of hit roll stops. But i didnt set any. IF pair pulls back. We shall anticipate a long position.
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