We see a deep throwback at oil which we think will end at 37 level.
Price is agressive atm, wait for the stabilization and then long from marked area.
Like and comment if you find value in our analysis.
Feel free to post your ideas and questions at the comments section.
Good luck
NOTES:
- All trades are executed with a valid signal of our own. As a trader you should develop and test your own entry protocol. - We never trade just because the price reaches the trading zone. This also means that not every idea is a valid trade. - Our analysis are trading ideas not trading signals for you. Therefore questions about the status of the trade, stop loss, take profit levels won't help your progress to be a better trader. - Instead of trying to take this trade and win small profits, focus on the analysis and how to create your own trading style.
Best Regards.
Comment
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time to manage our risk. Stop moved to break-even
Trade closed: target reached
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Fibonacci is extremaly powerful tool if used properly.
Pay attention to the 0.618 retracement level tests.