Looking for Oil sells back down to 75$
Huge gap over the weekend, looking for gap to fill.
Oil data reports this week keeping oil in its current consolidation zone.
Several Rejections of Daily supply level.
1:3 R:R
NFP tomorrow could push it down
Only buys if we break above 82$
Break and retest of resistance. Price is current at re-test zone
Entry .3 Fib level
SL: .6 Fib level
1:3 R:R
TP1: -0.25 Fib
TP2: -0.5 Fib
TP3: -0.75 Fib
Typical break and re-test of consolidation zone. Broke resistance level of 1.212. Waited for retest. Fib retracement set up for 1:3 risk to reward ratio. DXY fell today when markets opened. .03 Fib level is entry SL is .06 fib level, TP 1, 2 ,3 specified on chart.
