USOIL - Time For Shorts ✅

Following on from our last post on USOIL, we mentioned how USDCAD is inverted correlated to USOIL and USDCAD made a particular price action that is being repeated on USOIL.

See that post below:

We are now approaching the third touch of the channel where we are anticipating a rejection.

Trade Idea:
- Watch for rejection of the channel
- Risk entry on rejection. Safe Entry on break of the ascending red trendline
- Stops outside the channel
- Targets: 82, 72, actively manage the rest if we break the channel

Goodluck and trade safe!