USOIL: Price breaks out of sideways – sell on pullback

Oct 3

To better understand my current outlook on USOIL, please refer to my previous higher-timeframe and fundamental analyses.
https://www.tradingview.com/chart/USOIL/YXTzmTxq-USOIL-Sideways-to-lower-in-a-tight-band/
https://www.tradingview.com/chart/USOIL/9TJGsDC6-USOIL-Waiting-for-a-reaction-at-strong-support/

This could be a position trade in anticipation of a larger downtrend on the daily timeframe, but there's risk involved due to the upcoming Non-Farm Payrolls (NFP) report this Friday.

* Trend: assessed using at least three trend indicators, with market structure as the primary guide.
** Weak or Reversal Signals: Assessed based on one of our criteria for trend reversal signals.
*** Support/Resistance: Selected from multiple factors – static (Swing High, Swing Low, etc.), dynamic (EMA, MA, etc.), psychological (Fibonacci, RSI, etc.) – and determined based on the trader’s discretion.
**** Our advice takes into account all factors, including both fundamental and technical analysis. It is not intended as a profit target. We hope it can serve as a reference to help you trade more effectively. This advice is for informational purposes only and we assume no responsibility for any trading results based on it.

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George Vann @ ZuperView

Oct 6

Trade active

Oct 10

Trade closed: target reached

The setup has moved nicely — you can either trail your stop or close the trade here.