Shorting USOIL here with DRIP. DRIP is oil services leveraged etf. SCO DWT all work
Trade closed: stop reached:
Stopped out. Made some $$$ not much
Comment:
Good chance the 61.8% Fibo is the top, 78.6% is possible but we should see a move lower soon.
Comment:
USOIL did reach the 78.6% fibo. Good place to get out, IMHO. Many are talking about ICL, YCL. I don't buy it. Looking for a little pullback here.
Comment:
This is a very strong move in OIL. I can't take a trade now, too risky. No way to predict a top. 88.6% fibo may work , and from there form a harmonic pattern?
Comment:
Possible target for GUSH
Comment:
Finally getting the dip I was expecting in OIL. I expect a 38.2% fibo reset here down to $51.5 in OIL or close to it. Then a move higher to continue.