Last week, oil failed to break through the $67.63 support level and rallied back, retesting the trendline.
So the trade plan for next week is to hold the buy position from the previous week and see if oil can break over the trendline. (Please review the prior trade idea to get a better picture of what I'm talking about.)
Breakout of the trendline might push oil to the next level of resistance at $72.66.
My trading strategy isn't intended to be used as a signal service. It's a process of gaining knowledge of market structure and improving my trading abilities.
Like and subscribe and happy trading to all
So the trade plan for next week is to hold the buy position from the previous week and see if oil can break over the trendline. (Please review the prior trade idea to get a better picture of what I'm talking about.)
Breakout of the trendline might push oil to the next level of resistance at $72.66.
My trading strategy isn't intended to be used as a signal service. It's a process of gaining knowledge of market structure and improving my trading abilities.
Like and subscribe and happy trading to all
Note
short be+1
$71.10 or $69.80 might a good idea to resume long position
targeting $75
Note
69.80 support hold??
reenty buy
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Related publications
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.