CVX demand zone long opportunity

CVX dropped after its earning report, and it gave a inside day breakout afterward.
At the same time, the oil price rallies a lot that is very close to the important pivot.

Being bullish about oil but not willing to chase the high before the resistance, long a oil company may be an alternative.

Often times, a demand/supply zone is formed by inside bar breakout/breakdown despite the fact that they have totally different trading philosophy.

While if we missed the inside bar breakout to catch the momentum, a pull-back strategy is still better than chase the high.

Comment:

Got the 1st kick @ 116.70, put the rest of the out below 113.90 to trail.

Comment:

an inside day at high, put some of the out at the inside day low 119.85;
the other put below 115 pivot to trail!

Comment:

Great example of demand zone trade, put the out below 125 to trail!