Oil Long 4H

16 gru

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

17 gru

Zlecenie aktywne

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.

17 gru

Uwaga

6 dni temu

Uwaga

Oil ran for 160+ pips on the first leg, and this is the consolidation on the 2nd leg I mentioned before