I am taking a long swing trade on Oil - The fundamentals Russian oil may get banned in Europe(Oil rallies because of demand) and the china lockdown from COVID-19(Oil declines of oversupply) these two fundamentals oppose each other. The technicals say there is a daily support @ $93.00 and an uptrend on the daily timeframe. Seasonality states that Oil via USO ETF is bullish between Apr 28 to May 18 90% of the time.
Entry was 102.50 tp1 - 110.25(reduce by 1/3), tp2 - 118.2(reduced by 50%) and let the last 3 run till stop by lower Donchian channel.
Let me know what you think in the comments.
Entry was 102.50 tp1 - 110.25(reduce by 1/3), tp2 - 118.2(reduced by 50%) and let the last 3 run till stop by lower Donchian channel.
Let me know what you think in the comments.
Trade active
Russia cuts off gas to 2 NATO countriesThe dollar rallies to highest since January 2017
Trade active
closed 1/3 of the position and moving stoploss to breakeven + $1.Trade closed: stop reached
Breakeven stop reached, the position is closed.Trade closed: target reached
TP1 Reached after position closed
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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.