Asia, Europe waiting for the US Oil! Possible climb to the 48:85
I guess the supply glut is already priced in the market, a new build won't be a surprise for many traders, but what might be shocking a good draw!
I will trade a 1 long round trip (possible entry at 48:19 or 48:15) with a SL of 20 ticks.
If the US open takes this above the 48:40 you will see it climb close to the 49 handle (48:85)
Possible exhaustion shorts to be formed if we hit the high of the day. If you hit your target try a second short return round trip.
If you your trade goes ITM, try to run it things are getting interesting from here. If you hit your stops stop trading.
I will trade a 1 long round trip (possible entry at 48:19 or 48:15) with a SL of 20 ticks.
If the US open takes this above the 48:40 you will see it climb close to the 49 handle (48:85)
Possible exhaustion shorts to be formed if we hit the high of the day. If you hit your target try a second short return round trip.
If you your trade goes ITM, try to run it things are getting interesting from here. If you hit your stops stop trading.