Was checking out the forex calendar and realized we have CAD news tomorrow.
USOIL caught my eye on the H1 timeframe due to the completion of the Gartley pattern.
A good Gartley pattern is made up of 3 significant lines at the PRZ.
1. XA 78.6 2. BC 113-161.8 3. AB=CD
This setup is a little unique as the AB=CD completion exceeded the XA 78.6 level. Therefore, the 88.6 level will be used instead of the 78.6 level, something I learned personally from Scott. We could see some retracement on USOIL tomorrow. Based on the rules of the Gartley pattern, these are the levels I am personally watching.
Entry: Around 71.70, upon the close of a bearish candle at the PRZ SL: 15-20 pips above X (72.05) TP1: AD 38.2 (71.20) TP2: AD 61.8 (70.90)
Maximum loss per trade should not exceed 2% of your capital.