OIL makes a huge drop from 76.9x and the current price at 62.9x is between fibo 0.618 and 0.5.
I think it's worth risk/reward ratio to try to catch the low from here. Check out my long term view for OIL
Downtrend on D1
Good zone to buy at the green box
Target around 63.7
Stoploss around 62.4
Yesterday, we made a very good trade with +120 pips and now we also have good price to make another risky trade on H1.
To be clear, we try to catch the low on H1 for short term and be patient for reversal signal on daily chart for long term
I was not able to post the idea at the moment price down to 62.6, so if you got in just ride the swing with stoploss around 62.4; if you did not get in, BE PATIENT for the good price near the green box.
***NOTE: All of my plans, you have to patient to wait for the price come close to EXPECTED ZONE. At that time, you should be at your desk to WAIT FOR REVERSAL CANDLES or PATTERNS on the low timeframe and then OPEN ORDERS. If I open the order I will update "TRADE ACTIVE". If I miss it, I will update for those following that trade until TRADE CLOSED or TARGET REACHED.
***LIKEs and COMMENTs would be appreciated!!!
I think it's worth risk/reward ratio to try to catch the low from here. Check out my long term view for OIL
Downtrend on D1
Good zone to buy at the green box
Target around 63.7
Stoploss around 62.4
Yesterday, we made a very good trade with +120 pips and now we also have good price to make another risky trade on H1.
To be clear, we try to catch the low on H1 for short term and be patient for reversal signal on daily chart for long term
I was not able to post the idea at the moment price down to 62.6, so if you got in just ride the swing with stoploss around 62.4; if you did not get in, BE PATIENT for the good price near the green box.
***NOTE: All of my plans, you have to patient to wait for the price come close to EXPECTED ZONE. At that time, you should be at your desk to WAIT FOR REVERSAL CANDLES or PATTERNS on the low timeframe and then OPEN ORDERS. If I open the order I will update "TRADE ACTIVE". If I miss it, I will update for those following that trade until TRADE CLOSED or TARGET REACHED.
***LIKEs and COMMENTs would be appreciated!!!
Note
Oil going up:)) 60pips already! Congrats!
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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.