OIL Buy

Time Frame:
- Daily: (FVG Identification)
- 4-hour: (FVG Identifiication)
- 1-Hour: Waiting for Confirmation
---
1. Trend Confirmation:
Identified a Change of Character (CoC) in OIL by the break of the previous high at 72.40, indicating a reversal in market sentiment and a new bullish trend.

2. Fair Value Gap (FVG):
On the daily chart & H4, noted Fair Value Gap between 72.50-73.15. This gap is a potential reversal zone if the price rebounds.

3. Entry Signal
Waiting for any reversal candle pattern on the 1-hour chart, if price touches the identified FVG zone.

4. Trade Execution
Entry Price: Wait for confirmation
SL: 72.10 (below H4 FVG)
TP1: 77.50 (previous high)
TP2: 79.00 (1.618 Fibonacci)
Risk-Reward Ratio (RRR): 1:5
Monitoring: Check-in daily at 8 AM & 8 PM

5. Outcome:

Exit Price:
Profit/Loss: pips

-------------

Disclaimer

The analysis and content provided here are intended solely for personal journal and educational purposes. This information does not constitute financial advice, investment advice, or a recommendation to buy or sell any securities. Trading involves significant risk, and you should only trade with money you can afford to lose. Past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.
FibonaccifvgMultiple Time Frame AnalysisOilSupport and Resistance

Penafian