USOIL Lower TF Long Set Up

Jun 5, 2018

USOIL has been in a steady downtrend these days. Going long here is a risky business but looking at the PA could work out fine. Strict risk management is of utmost importance. The Median Line of this inside for is considered as a 1.5R target. As well, the price is retreating after reaching 100% fib extension of the previous swing down. The same pivots are used for the inside fork and target is calculated as a mean reversion before continuing with the downtrend.

Jun 5, 2018

Trade closed: stop reached