A new selling opportunities for USOIL The Measured AB=CD move ends at 39.70
Look left there is good structure now acting as resistance SL should be above 40.15 the ext 1.618 Look for Price Action and also RSI to enter the short trade, if a bullish candle close abve 40.15, then the set up is invalid. Calculate your lot size, For example, if you enter at 39.70, SL 40.20 50 pips, and you dont want to lose 500 buck u should only trade 0.5 LOT ( 1 LOT = 1000 barrel)
Trade active
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Order filled at 39.70
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Rejected at 1.618 ext.
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Comments
VForex
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Jack , you think the oil price is raising up due to a high chance of positive rig count data release today?
tntsunrise
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possible. or may be because the usdcad going down
sal
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Hi do you think should stay clear of position prior sunday meeting? much appreciated if you can post an update or a new idea on oil. thanks again
ViorelSmintanca-Strugariu
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still valid short?
jafbash786
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SL hit at 40.4 trade closed :(
Equal
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Same here. Stopped. I guess to not re-enter.
tntsunrise
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40.30 is key resistance, if price falls back below 40.30, still can short
jafbash786
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price was rejected quite harshly re entered at 40.2 now in the green
jafbash786
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any thoughts on current price action jack its quite sideways now
PowerOfCapital
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The price currently falls back to 40.21, very interesting to see how it will unfold, what target do you see in short term, Jack?