I hope you can now see how USOIL represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the...
Price inside the channel either wait for the breakout or trade the channel, that is short when reaches the channel top and long when reaches the channel bottom.
Price after a big fall will reverse a little for sure, so just try to capture that reversal after conforming that in lower time frame and enter long and exit as soon as you are in profits.
Price trading inside a box which is $ 1 range. Now making symmetric triangle pattern and it might break on either side.
Wait for the box breakout and enter the trade accordingly. If you are an aggressive trader then enter the market when price takes support from the symmetric triangle.
Technical Analysis- The 4 hour is down against 1/08/2020 peak (63.87). 1 hour is turning down. However, while near-term dips remain above 6.59 low expect OIL to extend higher to correct the cycle from 1/08/2020 peak in 3, 7 or 11 swings before downside resume. We prefer selling the bounces in 3, 7 or 11 swings at the extreme areas.
Sell USOIL
@26.10-40
TP:...
