Here is something different from my usual 2618 reversal setups, trend continuation traders will like this one.
We have a trend continuation opportunity on USOIL coming in around $42. This level has been an important level for price action over the past month. You can see on the chart that price failed to break and close above $42 on two attempts, before making new highs on the 3rd assault late last week.
If we get a pullback down into the structure at $42, I will be looking to enter long. First target at $44, to retest the new high, and above that an extended target 2 at $50. Stops will be below $40.
If you don't like to trade USOIL directly, a bullish bias can always be reflected through equities. There are a number of equities I have been watching that seem to closely track USOIL (ASX:STO, ASX:WPL, ASX:BPT, ASX:SEA).
Good trading,
Luke
We have a trend continuation opportunity on USOIL coming in around $42. This level has been an important level for price action over the past month. You can see on the chart that price failed to break and close above $42 on two attempts, before making new highs on the 3rd assault late last week.
If we get a pullback down into the structure at $42, I will be looking to enter long. First target at $44, to retest the new high, and above that an extended target 2 at $50. Stops will be below $40.
If you don't like to trade USOIL directly, a bullish bias can always be reflected through equities. There are a number of equities I have been watching that seem to closely track USOIL (ASX:STO, ASX:WPL, ASX:BPT, ASX:SEA).
Good trading,
Luke
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.