BOIL 2H Long Setup – Trend Reversal in Play

BOIL has been in a steady downtrend, capped by a clean descending trendline since mid-July. Price recently double-tapped a demand zone near the $26.00 level and printed a potential higher low. Bullish momentum is starting to creep in with volume picking up and Heikin Ashi candles showing smaller wicks to the downside—classic signs of selling exhaustion.

Supply: $36.50–$38.00 (TP zone1 near resistance )
Supply: $50.44–$48.06 (TP zone2 near resistance )

RSI Divergence

Bullish divergence spotted on RSI/Stochastic: Price made a lower low while the oscillator made a higher low.

Momentum histogram also printing green and rising — early confirmation of shift.

Trade Setup

Entry: $29.00 (Current bid/ask range)

Stop Loss: $26.20 (Below double bottom demand)

Take Profit 1 (TP1): $34.50 1:3RR

Take Profit 2 (TP2): $49.46 1:5RR

Risk Management

Max risk = 1–3% of your trading capital.

Example: $10,000 account → Risk $100–$300 max on this setup.

Trade Management

Consider moving Stop Loss to Break Even (BE) once price hits $31.80 (1:1 RR).

Scale out 50% at TP1 to secure gains, let the rest ride to TP2 with a trailing stop.

“Be fearful when others are greedy and greedy when others are fearful.”
— Warren Buffett

⚠️ Disclaimer

This analysis is for educational purposes only. Trading involves substantial risk. Always perform your own due diligence before entering any trade.