Going long on OIL,
We had a burst to the upside and had a retrace to our entry zone,
We have a huge gap from Sunday open, we are looking for this gap to close, the stop loss is fairly tight for Oil itself.
We are buying off this retracement.
We have a bearish trend here,
We can see market structure playing out well for this asset previously,
A clear rejection of the previous support level which is now becoming a resistance,
Sl above the high
TP above the recent low