OIL Buy to Extenstion Level & Measured Move Break (Daily)
Channel line represents key resistance area with pricing holding at that level.
Possible scenarios:
Target 1 represents 1.272 extension which coincides with lower pivot high
Target 2 represent measured move break of prior trading range which also coincided with highest high
S/L: Around 10 pips below wick of strongest bear candle @65.54
T/P: At pivot highs and extension levels @72.56 & @74.04
Possible scenarios:
Target 1 represents 1.272 extension which coincides with lower pivot high
Target 2 represent measured move break of prior trading range which also coincided with highest high
S/L: Around 10 pips below wick of strongest bear candle @65.54
T/P: At pivot highs and extension levels @72.56 & @74.04
Trade closed: stop reached:
Price broke out past resistance.