as the previous post mentioned:
if you take the strategy 1, you should be earning now :) Pay attention to the purple line.
if you wanna take the strategy 2, be patient and wait until the price break via the purple line which certain level of volume.
Happy Trading :)
Currently the price is drop via the 0.382 ratio which was mentioned in previous post.
If you are shorting since last post's position,
keep that short and wait until 44.07 (0.5 ratio) to see if there is any candlestick pattern which is worth to note.
Let's see if there is any trend changing candlestick pattern formed when the price is reaching 44.07
Happy Trading :)
As previous post mentioned, we need to be cautious on the price of USOIL when it is reaching the purple resistance. Currently seems the price is stack at the 0.764 ratio and a bearish candlestick is forming. Taking profit of the previous LONG is a good choice.
Let's assume that is a temp. top first. Using Fib. retracement, let's us focus on the price to see if it...
As the price is approaching the resistance mentioned before, we need to keep cautious.
Now adding Fib Retracement as reference.
We can see that the price are stucked under 0.764 ratio.
If the candlestick formed today is bearish, we may need to be alert and consider if we wanna take profit :)
Happy Trading :)
Indicated on the chart.
Maybe today is a chance to LONG USOIL if today daily chart shows a bullish candlestick pattern.
In addition, we need to pay attention to the news about OPEC Meeting too.
Happy Trading :)
Seems it is a correct decision to LONG yesterday :)
Continue to monitor and stay cautious.
One more resistance line which is needed to pay attention - the purple support line (which is now act as resistance) since 1999
