Hey guys, I seldom trade oil, but I do see a good setup coming up on it.
Oil is trending up.
It is close to the extreme low of the ED channel.
I see a potential HNS completing in H1.
This will be the levels I am watching.
EP: 50.35
SL: 49.60 (75)
TP: 52.40 (205)
Again, I hope to see some reaction at my entry zone before I enter.
Do not use limit orders.
The 2 more common reactions that trigger me to enter the trade is
1. Pin/hammer candlestick pattern at support/resistance levels
2. A break below that level and an immediate regret moving back up above it, usually within 2-4 candles.
That's it for USOIL guys.
Oil is trending up.
It is close to the extreme low of the ED channel.
I see a potential HNS completing in H1.
This will be the levels I am watching.
EP: 50.35
SL: 49.60 (75)
TP: 52.40 (205)
Again, I hope to see some reaction at my entry zone before I enter.
Do not use limit orders.
The 2 more common reactions that trigger me to enter the trade is
1. Pin/hammer candlestick pattern at support/resistance levels
2. A break below that level and an immediate regret moving back up above it, usually within 2-4 candles.
That's it for USOIL guys.
Note
Hey guys, for those of you who are interested how I trade, I prepared a report on how I will trade in Week 42.Download report by clicking link below, no signups/login required.
harmonicforex.com/terrys-weekly-forex-market-report/download-now-terrys-week-42-forex-market-outlook-report
Trade active
Got in at $50.40 last night.Stop loss survived the spike down last night.
Hope this works out well! :)
Trade closed: stop reached
Trade hit my SL at 49.60.Taking a loss on this trade.
Traded according to my plan, on to the next one.
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.
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.