USOIL 618 pullback long with Demand zone formed

٢٣ أغسطس ٢٠١٩

The day before yesterday USOIL slumped well with the assistance of bearish bat pattern in 4hr chart. While the price fell to 0.618 location, AB=CD formed and price action showed the power of buying.
Therefore, it's worth a trade relying on the newly-formed Demand zone in 1hr chart.

Entry: 55.1
SL: 54.8
TP1: 55.7
TP2: 56.1