USOIL went through a decent pullback earlier today and can potentially reach 6335 as a result of another bullish swing. Limit sell order around 6335 with a 35 tick stop and 1R-2R targets is the current plan.
As shown in the graph above, USOIL has been declining each time it nears the 45 degree line form the top. The next selling point is around 6440 area.
USOIL found support it seems. Buying around here with stops below 6630 and looking for 1R-3R targets seem reasonable.
USOIL just hit the 2x1 line and seemingly going for a pullback to test the 1x1. Selling short here with a 35 tick stop and looking for 1R-2R targets seem reasonable.
The S&P500, My SETUP of SaR & New Trend GREW TO MATURITY ES1 °_] #AVISINSPECVLIS (my RuChezRu™ Methods/Setups, Price Channel, Volatility Buffer/StopLoss & Maintenance of Offset/StopLoss Orders — HAS RIPEN.)
Following the Rule of Angles from W.D Gann's work, a break below this structural angle would indicate a profit target of the 1.34 zone.