My advice to anyone trading oil is keep position size extra small...caution always. It will burn you. Having said that im putting two small positions on prices recovering and closing the gap we created. This has nothing to do with any geopolitical upheaveals,no Russia or Saudi in this analysis,just pure tech analysis. We reached an important zone (yellow) on the weekly and monthly, the last time we were at these levels was 2016 and 2009 before that. So we should get some impetus for the bull move....there should be enough buyers with enough firepower to at least push price to 40 plus region. I zoomed my entries down to H4.
Entry: 2 small positions @ 33.25
SL: 29.40
TP1: 41.94 (RR-2.34)
TP2: 43.96 (RR-3)
Watch your position sizing!
Entry: 2 small positions @ 33.25
SL: 29.40
TP1: 41.94 (RR-2.34)
TP2: 43.96 (RR-3)
Watch your position sizing!