DACapitalTrading

USOIL - SETUP - WEEKLY CONTINUATION - 7 MAY

Long
DACapitalTrading Updated   
NYMEX:CL1!   Light Crude Oil Futures
WELCOME TO DACAPITAL TRADING!!


USOIL just started moving as expected, quick Timeframe breakdown for free and everybody.


4 HOUR
Last Candle closed above Previous Week High and took out all Highs forming new one.

DAILY
Bullish Daily Candle forming after last few days exploding price action with trend continuations.

WEEKLY
Following Short/Mid and Longterm Trend, very bullish Price Action over the past few Weeks with several Highs and HH/HL
Structures formed.

LEVELS
Entry @ 70.55
SL @ 69.80 (74 Pips)
TP1 @ 71.26 (RR 1.0 = 74 Pips)
TP2 @ 71.64 (RR 1.5 = 110 Pips)
TP3 @ 72.03 (RR 2.0 = 150 Pips)
Weekly trend continuation, move SL to BE if TP1 hit and close partial Profits at every TP Level.!


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DACAPITAL TRADING
Trade active
Comment:
Changed my SL to 69.65
Trade closed: stop reached:
-90 Pips
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