USOIL - Inverted HNS pattern at channel extreme

Hey guys, I seldom trade oil, but I do see a good setup coming up on it.

Oil is trending up.

It is close to the extreme low of the ED channel.

I see a potential HNS completing in H1.

This will be the levels I am watching.

EP: 50.35
SL: 49.60 (75)
TP: 52.40 (205)

Again, I hope to see some reaction at my entry zone before I enter.

Do not use limit orders.

The 2 more common reactions that trigger me to enter the trade is

1. Pin/hammer candlestick pattern at support/resistance levels
2. A break below that level and an immediate regret moving back up above it, usually within 2-4 candles.

That's it for USOIL guys.

Kommentera:

Hey guys, for those of you who are interested how I trade, I prepared a report on how I will trade in Week 42.

Download report by clicking link below, no signups/login required.

www.harmonicforex.co...arket-outlook-report

Handel aktiv:

Got in at $50.40 last night.

Stop loss survived the spike down last night.

Hope this works out well! :)

Trade stängt: Stopp nått:

Trade hit my SL at 49.60.

Taking a loss on this trade.

Traded according to my plan, on to the next one.