OSK's demand zone can be seen clearly on the weekly chart. The fear in the markets this week saw it gapped down into the middle of the demand zone yesterday. It hit a low of 54.30 and started to rise (with a pin bar on the 15min). By the time I longed it was closed to the top of the zone. A small position as the SL is rather far away at 51.40 and looking to scale out as and when it reaches the fib levels on the way up. I would also scale my trailing stops up as the market is just so volatile this period!
Disclaimer: This is just my own analysis/opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
Disclaimer: This is just my own analysis/opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
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