USOIL have started a free fall, buying levels are on the chart, for me no buy above 40, as extreme downside this chart can go to 34 or 29 later And I am waiting for a good short around 47-49 area, depending on the 4H chart if it goes there.
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A very small long pending order @42.90 with SL @42.10 hunting the pull back to @47-49 where the larger shorts are waiting.
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The long pending order opened @42.90 and the well calculated SL@42.10 was not hit (10% luck as it was falling from @51.85 and just stopped @42.19)
A detailed update on USOIL is posted earlier today showing the key levels and the expected short/long levels on the 1H chart.
P.S. A million dollar hint on the USOIL, it mostly move in THREEs. Which means: -falling from 51's means most likely will stop 42's which are three threes -then long from 42's to 45's, and the price stopped. -if the long target is 47's means expect pullback to 44's to add longs -extenden long target to 49's means add longs on the 46's retest. also means that the longterm short target will be @40's and extreemly to 37's (37's is way too far) -expecting the long term short to 38's means the price should only go to the 47's level, then makes its three threes down to 38's