Crude Oil: Buy Entry Near 81.25/04 on 4-Hour Chart
Monthly TF: From a cyclicity perspective, 
XTIUSD has been sideways for a considerable time. However, last month's price action formed a bullish engulfing bar, indicating a bullish bias.
Weekly TF: Similarly, cyclicity does not offer much, but since June, a bullish move has begun with no signs of ending. Last week's price action was an inside bar with a rejection wick at the bottom. Thus, the weekly chart indicates a bullish sentiment.
Daily TF: While cyclicity phases aren't clear, the daily chart shows a bullish move up. Due to the weekly inside bars, the daily chart is in a ranging structure.
4-Hour Chart: With a bullish bias and ranging structure, it's prudent to wait for the price to reach the bottom of the range before going long to target the top of the range.
It might not reach the bottom of the range, and that's fine. We are not rushing into long positions from arbitrary points; we only want to enter from key levels.
Buy Limit Entry: 81.25/04
Stop Loss: Below 80.70
Target(s): 83.78, 84.45
XTIUSD has been sideways for a considerable time. However, last month's price action formed a bullish engulfing bar, indicating a bullish bias.Weekly TF: Similarly, cyclicity does not offer much, but since June, a bullish move has begun with no signs of ending. Last week's price action was an inside bar with a rejection wick at the bottom. Thus, the weekly chart indicates a bullish sentiment.
Daily TF: While cyclicity phases aren't clear, the daily chart shows a bullish move up. Due to the weekly inside bars, the daily chart is in a ranging structure.
4-Hour Chart: With a bullish bias and ranging structure, it's prudent to wait for the price to reach the bottom of the range before going long to target the top of the range.
It might not reach the bottom of the range, and that's fine. We are not rushing into long positions from arbitrary points; we only want to enter from key levels.
Buy Limit Entry: 81.25/04
Stop Loss: Below 80.70
Target(s): 83.78, 84.45
Trade active
Note
The first target has been reached. Manage your positions by partially closing them or trailing the stop loss.
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