Analyzing the 2-hour chart of USOIL, a clear downward trend is visible within a parallel channel. Following a recent reversal from the resistance line, the direction now appears to be heading towards the support line, indicating a potential waterfall.
Trade setup:
Sell zone: 74.60-74.80
Take Profit 1: 74.00
Take Profit 2: 73.30
Take Profit 3: 72.60
Stop Loss: 75.70
Trade setup:
Sell zone: 74.60-74.80
Take Profit 1: 74.00
Take Profit 2: 73.30
Take Profit 3: 72.60
Stop Loss: 75.70
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