Yesterday's small green doji tagged the 50 SMA. That was my original target for the long trade.
RSI tagged the oversold levels and today just turned up violently.
We just sliced through the 50 EMA. I think we will have a strong rally up to the 200 SMA and the red dotted trendline.
After that oil will break out of this triangle consolidation by rallying above 52$ and heading to 60$.
The following daily cycle should be this year's best rally in oil and hopefully oil shares (XLE, ERX) will catch up and follow the main indices.
RSI tagged the oversold levels and today just turned up violently.
We just sliced through the 50 EMA. I think we will have a strong rally up to the 200 SMA and the red dotted trendline.
After that oil will break out of this triangle consolidation by rallying above 52$ and heading to 60$.
The following daily cycle should be this year's best rally in oil and hopefully oil shares (XLE, ERX) will catch up and follow the main indices.
Trade stängt manuellt:
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This idea worked out perfectly though trolls were kicking and biting me at the beginning. There might be one more daily cycle maybe we go long one more time this year. Time will tell
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Press play on the idea...
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6$ profit.
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As Im Watching the green numbers on the platform it was not a paper trade...
