TreyHighPwr

Can OIL Push Higher into Daily Supply for a Potential Long...?

Long
TreyHighPwr Updated   
EIGHTCAP:USOUSD   Spot WTI Crude Oil
USOUSD
I Have been watching oil very very closely over the last few weeks with a very bullish outlook.
Here is my Narrative for Oil Pushing Higher going LONG.
1) Price has Officially traded higher than the daily EQ indicating (premium pricing)
2) I will wait to see how this current Bull Candle Closes on the Daily for further confirmation to truly keep building the narrative for going Long.
3) Being price broke of the Daily EQ and now is trading around ($74.60), I need to see price break above the next Minor resistance level on the daily which is around ($75.665) and close above on the 30&15m candle.
4) IF and when price can produce these sequence of events I will be interested in Going Long targeting the Next Minor Resistance level around ($77.610). Roughly a 1,700 point move.
5) Lets not forget on the 4Hr if and when price can break above ($75.665) that will officially be a 4Hr Swing CHoCh, indicating Bulls are coming into market as the more dominant hand currently.
6) I am no Genie and I am not a Financial Advisor, I simply study the market very very closely and I participate when its time to. All trades are taken on a simulated acct.
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Now we sit back and Stalk like the saltwater croc...
#BHM500k
Comment:
Lets continue to watch OIL very very closely as buyers strongly pushed price right back up around Daily EQ Level and Heading back to Our 4Hr LSH
(We are waiting for the Buyers Breakout)...Patience Pays!
"Lets sit back N stalk like the Saltwater Croc"
#BHM500K
Comment:
Price is nearing the 4Hr LSH...
Lets remain patient and await to see what happens
Sit back N Stalk like the Saltwater Croc!
-Management500K
Trade closed manually:
We Got the 1hr Bos.X (Break of Structure) and PA closed above so I scaled in off the 15M and waited for my limit to be hit. And Price did exactly as I predicted. Didnt quite make it all the way to TP however I still managed to make +2.2R!Great Management...On to the next Set Up
#BHM500K

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