USDWTI - Price approaching major support for long setups

Hey fellow traders, I am traveling for both personal and business over the next two weeks and will not be posted as frequently as usual. If you haven't been following me you have missed a number of accurate predictions in the last few weeks such as the AUDUSD bullish breakout, JPYUSD bull trap, SP500 breakout, Gold price pop, Macy's bullish price explosion and a number of other calls. If you would like accurate analysis to supplement your own, please follow me and watch/like my videos. Now onto oil. After an explosive move high the market has finally reached a point of exhaustion and has begun falling back to a key support level. While this trend remains intact we want to be long and only long. Picking up pennies in front of a steam roller is not a winning strategy. With that in mind we are watching for USDWTI to reach the key area of 69-70 and throw a high quality bullish candlestick signal such as a bullish pin bar, bullish engulfing bar, 2 bar reversal, or an inside bar. Be watching this level closely.

Trade active:

Sold naked puts w/ 74 strike on XLE. Fear is high in oil w/ the IVR at around 50%. I will either sell when my puts around 65-70% profitable. If oil were to move against my position in a significant way I will sell an equal number of calls @74 to create a straddle and improve my cost basis. If price were to move further yet then I would go inverted and roll forward in expiration to continue to improve my cost basis.