Oil Long 4H
This trade idea is based solely on Price Action. I observed that oil has broken the previous neckline, and I expect a pullback to the golden zone of the Fibonacci retracement for the previous leg. Before entering the trade, I'm looking for confirmation on a lower time frame, such as the 30-minute chart. An ideal confirmation would form a 'W' pattern, preferably with a higher low in the second leg.
69.20-69 is the entry zone with almost 50 pips SL
69.20-69 is the entry zone with almost 50 pips SL
Transaction en cours
Oil reached the entry zone. I'm doing some scalping with a Buy bias here(20-30 pips) and waiting for confirmation on 30-15M. On these types of setups, we usually have the first leg as a V recovery, and on the second leg, we usually have a consolidation zone for entering the trade. I'm watching this and will update you.Note
Note
Oil ran for 160+ pips on the first leg, and this is the consolidation on the 2nd leg I mentioned before
Trade fermée: cible de profit atteinte
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.