Fxprotrader

USOIL@Beautiful Long Setup Ahead

FX:USOIL   Crude Oil (WTI)
I decided not to count waves with this one as we have a very clear picture on the chart. USOil             after a huge sell off, climbed with a sharp move breaking a medium term resistance level (blue trendline ). For the previous days it's in a corrective structure moving into a descending channel . If price moves lower we will have the completion of a bullish butterfly pattern with its D point at a key level ( 0.618 of the impulsive wave, lower trendine of the channel). As for profit target we should aim for the long term resistance, around 48.70.

Trade closed: target reached
Comment: False update..! This trade never was triggered..
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