OIL makes a huge drop from 76.9x and the current price at 62.9 is between fibonaci 0.618 and 0.5. I think it's worth risk/reward ratio to try to catch the low from here. HOWEVER, be patient to see at least one blue candle
Downtrend on D1 Good zone to buy at the green box Target at fibo 0.86 (69.4) Stoploss below 59 or decide when we open the order I try to look at it at low timeframe and let you know if I see a chance
WAIT REVERSAL CANDLE PAIRS ON H4 => BUY
***NOTE: All of my plans, you have to patient to wait for the price come close to EXPECTED ZONE. At that time, you should be at your desk to WAIT FOR REVERSAL CANDLES or PATTERNS on the low timeframe and then OPEN ORDERS. If I open the order I will update "TRADE ACTIVE". If I miss it, I will update for those following that trade until TRADE CLOSED or TARGET REACHED.
***LIKEs and COMMENTs would be appreciated!!!
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Waiting for 1st blue daily candle.
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Still waiting for bull candle on daily chart because the yesterday candle was red:)
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Exactly dropped to fibo 0.5 (59.5) and bounce up.
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Now we have one daily blue candle. Time to scale order to buy it. I will make another analysis shortly.