Chevron (CVX) recently broke structure to the upside after holding a 1D demand zone near $136.
I'm now watching for a pullback toward the 0.382 retracement (~$141.80) of the recent impulse. This level aligns with the breakout area and offers a potential continuation setup.
🎯 Trade Setup:
Bias: Long (on retracement)
Entry zone: $141.80 – $142.00
Targets:
📌 Gap 1 → ~$158
📌 Gap 2 → ~$166
Invalidation: Close below $138 would negate the bullish thesis.
🧠 Context:
Structure flipped bullish after BoS.
Gaps above remain unfilled, acting as magnet zones.
Pullback to 0.382 = logical spot to join trend continuation.
I'm now watching for a pullback toward the 0.382 retracement (~$141.80) of the recent impulse. This level aligns with the breakout area and offers a potential continuation setup.
🎯 Trade Setup:
Bias: Long (on retracement)
Entry zone: $141.80 – $142.00
Targets:
📌 Gap 1 → ~$158
📌 Gap 2 → ~$166
Invalidation: Close below $138 would negate the bullish thesis.
🧠 Context:
Structure flipped bullish after BoS.
Gaps above remain unfilled, acting as magnet zones.
Pullback to 0.382 = logical spot to join trend continuation.
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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.
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.