There may still be a shot for the USOIL

USOIL is in the consolidation zone. Therefore, before it goes deep down, there still can be a correction or two which can be grabbed.

For today´s trade the pattern worked 100%

Please feel free to discuss and specially to criticize as this is my first idea.

Thank you for watching!

Comment:

Just a short update on an entering point, SL and TP:

Tomorrow it is the first day when the big holders of the chinese stocks can start selling them: limited amount and with 15 days previous advice but still (credit for a hint goes to BattleAxe!). Therefore, I´d expect a sort of selling off on Shanghai and Shenzhen markets, which may affect the whole APAC trading and bring the USOIL down for an additional 1-1,5%.

If this happens, you may monitor the status closely and place your order when the price starts climbing.

On Europe trading hours, you may find some good stats from Germany + Unemployment rate which would stabilize the price and lift it to today´s levels.

Finally, if the API report hints some storage reduction, this can catapult the price over 33

SL - 29.50 (Just below the 30 support level)
TP1 - (considering, you´ve entered somewhere between 30.50 and 31) - Monday, 1st of Feb opening on 32.18
TP2 - 33
TP3 - 33.50

Thank you for reading! Please feel free to post your positive votes if you think that will work or negative comments if you consider the thingy doesn´t make any sense.

Trade active:

Worked perfectly until now. I´m in at 30.80

Comment:

The chinese Central Bank injected a new portion of money to the financial system. Clearly stating they dont want any surprise before leaving on holidays.

Good sign in my opinion : we have the Caixin services PMI tomorrow and also Governor Kuroda's speech. After that, the APAC zone may start it's pre-New Year ascending

Trade closed manually:

We are back to Red numbers on the stats from Russia: they pump oil on the record levels despite rumors of a reduction in oil production. Closed manually on 31.10 and now waiting for US market to open to decide whether Im back to the rumble today.

Trade active:

Trade activated automatically at 29.50, now moved SL to 29.80 as I won't be able to follow the Trade during the day

Trade closed: target reached:

Closing trade now on 31.70. Hope you had enough patience to get almost until the end.

Thank you for watching!

Trade active:

Should ahve posted that I entered the market at 32.50 and now preparing to close the trade as the TP3 is approaching. Want to check how the API report would influence on today´s trade and see if I can get to further profit

Trade closed: target reached:

OK, I stopped at 27.77. More than enough for that trade!