Oil Long Setup
Entry: $53.68
TP & RR: $57.65
Stop Loss: $52.57
REASONS FOR THE TRADE
Contrary to most expectations that Oil was overpriced, it continues to trend up. I won't open a long order at the current level, nor would I short obvious strength. However, if price retraces back to previous resistance, which is now support, I am more than happy to buy. I believe we are now in a channel and we are yet to see how we go through the awaited $55-$56 level.
With that being said, we may not get filled at all. Should this be the case, we will be targeting the upper channel with a short order.
Entry: $53.68
TP & RR: $57.65
Stop Loss: $52.57
REASONS FOR THE TRADE
Contrary to most expectations that Oil was overpriced, it continues to trend up. I won't open a long order at the current level, nor would I short obvious strength. However, if price retraces back to previous resistance, which is now support, I am more than happy to buy. I believe we are now in a channel and we are yet to see how we go through the awaited $55-$56 level.
With that being said, we may not get filled at all. Should this be the case, we will be targeting the upper channel with a short order.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.