BOIL 2H Long Setup – Trend Reversal in Play

BOIL has been in a steady downtrend, capped by a clean descending trendline since mid-July. Price recently double-tapped a demand zone near the $26.00 level and printed a potential higher low. Bullish momentum is starting to creep in with volume picking up and Heikin Ashi candles showing smaller wicks to the downside—classic signs of selling exhaustion.

Supply: $36.50–$38.00 (TP zone1 near resistance )
Supply: $50.44–$48.06 (TP zone2 near resistance )

RSI Divergence

Bullish divergence spotted on RSI/Stochastic: Price made a lower low while the oscillator made a higher low.

Momentum histogram also printing green and rising — early confirmation of shift.

Trade Setup

Entry: $29.00 (Current bid/ask range)

Stop Loss: $26.20 (Below double bottom demand)

Take Profit 1 (TP1): $34.50 1:3RR

Take Profit 2 (TP2): $49.46 1:5RR

Risk Management

Max risk = 1–3% of your trading capital.

Example: $10,000 account → Risk $100–$300 max on this setup.

Trade Management

Consider moving Stop Loss to Break Even (BE) once price hits $31.80 (1:1 RR).

Scale out 50% at TP1 to secure gains, let the rest ride to TP2 with a trailing stop.

“Be fearful when others are greedy and greedy when others are fearful.”
— Warren Buffett

⚠️ Disclaimer

This analysis is for educational purposes only. Trading involves substantial risk. Always perform your own due diligence before entering any trade.

DubaiTradersHub

By Dubai Traders Hub
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Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

DubaiTradersHub

By Dubai Traders Hub
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