US OIL Trade Plan
Updated
Switched Oil holding (UWTI) near 40 and looking to hold long till target is reached $45.40. As you can see I have mapped out important support and resistance area using a 50% high/low method. Pivots and S/R was drawn from recent June through August High/Low as well as 2008 high to Feb. 11 this year low.
I will follow up with a short position (DWTI) when 45.40 area target is reached. I don't expect oil to go further than 42 after reaching 45.4 target. After short position, I will later look for a long position and a big move -- 56 area.
I will follow up with a short position (DWTI) when 45.40 area target is reached. I don't expect oil to go further than 42 after reaching 45.4 target. After short position, I will later look for a long position and a big move -- 56 area.
Trade active
Trade closed manually
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.