Oil is in a wedge that will soon break. There is upside potential to this trade, this setup shows our views on the trade. We would monitor the area to buy and then scale out part of it at the first point in orange and then P1 ourselves with the remainder while leaving the rest for the yellow area. We will monitor price and patterns in this box to close off the trade.
Trade closed: target reached:
Risk reward was good, target was reached. Entry was done on third yellow area. The first yellow area never gave you a chance to enter and just blew by.