Here is the rational for this trade:
The weekly has pulled back into a support zone with a Dynamic Zone above. The daily is developing a Double Bottom in the sweet zone with a Dynamic Zone above. The 4 hour is too choppy to make any sense, no help there. Great risk to reward.
- Wait for price to close above 113.38
- Target will be 116.76
- Stop will be under 111.73
This trade is going to take some time to develop, there is coiled energy for the upside.