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.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.