Pin Bar at 50% Fibonacci Retracement and Resistance Level

٨ أغسطس ٢٠٢١In the USOIL Market, the ideal entry was to enter at 70.55 and 70.54 price area. This zone area is where horizontal resistance level overlaps with 50% Fibonacci Retracement Level. Also USOIL was in the downtrend. EMA 10 is below EMA 20 which indicates a downtrend.

Horizontal Resistance Level had a minimum of three touches.