Analyzing the 2-hour chart of USOIL, a clear downward trend is visible within a parallel channel. Following a recent reversal from the resistance line, the direction now appears to be heading towards the support line, indicating a potential waterfall.
Trade setup:
Sell zone: 74.60-74.80
Take Profit 1: 74.00
Take Profit 2: 73.30
Take Profit 3: 72.60
Stop Loss: 75.70
Trade setup:
Sell zone: 74.60-74.80
Take Profit 1: 74.00
Take Profit 2: 73.30
Take Profit 3: 72.60
Stop Loss: 75.70
Trade active
TP1 Done👍
Close 30% Trade, Set Breakeven For Remaining Trade at Entry Point For No Loss
Trade closed: target reached
All Take Profits Done. Traders Don't Go For More Waterfall It has Gotten Reversal From Support Line.
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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.