Greetings Folks,
today I have prepared a setup of USOIL on TVC
the analysis is as follows-
-the price currently broke out of a range of equal highs, this is a good sign of bullish momentum
- the price is retracing right now, either it can take support from the 50% of retracement or respect the support zone i mentioned in chart
- the safer trade would be the latter one, i have marked the take profits also or you can also use pivot point indicator for exit
don't play with fire, always use a predefined stoploss
today I have prepared a setup of USOIL on TVC
the analysis is as follows-
-the price currently broke out of a range of equal highs, this is a good sign of bullish momentum
- the price is retracing right now, either it can take support from the 50% of retracement or respect the support zone i mentioned in chart
- the safer trade would be the latter one, i have marked the take profits also or you can also use pivot point indicator for exit
don't play with fire, always use a predefined stoploss
Trade closed: stop reached