4hs and Daily analysis on Crude Oil Futures by ThinkingAntsOk
Use this as a guide to develop your view of the chart.
Main items we can see on the 4hs chart:
-The price is inside an ascending channel
-On the Daily chart (image below) we can see that the price is close to a significant resistance zone + the Dynamic upper resistance of the ascending channel
-Currently, we can see an Inner bullish trendline inside the ascending channel, and it has been broken
-Now we will be waiting for a clear pullback, and ONLY IF THAT HAPPENS we will develop our setup, with an entry below the structure / stop above the Higher high/ and break-even before the first target
-The full movement we will trying to catch is going to be towards the second bearish target
Daily Chart:
Main items we can see on the 4hs chart:
-The price is inside an ascending channel
-On the Daily chart (image below) we can see that the price is close to a significant resistance zone + the Dynamic upper resistance of the ascending channel
-Currently, we can see an Inner bullish trendline inside the ascending channel, and it has been broken
-Now we will be waiting for a clear pullback, and ONLY IF THAT HAPPENS we will develop our setup, with an entry below the structure / stop above the Higher high/ and break-even before the first target
-The full movement we will trying to catch is going to be towards the second bearish target
Daily Chart: