Oil Long Setup

OIL Long Setup
🔵 Entry Level: $80.60
🟢 Take Profit: $82.84 (2.8R)
⛔ Stop Loss: $79.80

Reasoning:
1) Apparently the two trades from yesterday failed and we went much lower than expected. The price is currently resting on the lower trendline of the ascending channel, so I am expecting a slight move up.
2) Target is set at the middle trendline in the ascending channel