USOIL is likely to pullback to the highlighted area around 5125. Looking for limit buy entries at that level for now. Reduced size to 1/2 and wider stop range is preferable option judging from the serious swings that oil has been going through.
Note
Limit buy @ 5125, a 70 tick stop @ 5055 and 1R-3R targetsTrade active
Limit buy filled.Note
Limit sell order 1/2 position @ 5195, a 1R target. Remaining 1/2 position working with the same stop.Trade closed: stop reached
1R loss. The market went up to 5185, 10 ticks lower than the 1R limit sell order @ 5195 and then collapsed to the 5055 area as the US session came in.Note
Limit buy @ 5035, a 70 tick stop @ 4965Trade active
Limit order filledNote
Limit sell order to close 1/2 position @ 5105, a 1R target, the remaining 1/2 working with the same stop.Trade closed: stop reached
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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.