Short Setup Fully Explained on WTI CRUDE OIL by ThinkingAntsOk
Take this as an idea to develop your own setup
Main Items we see on the 4HS CHART:
A)Price made a Flag pattern suported by the daily descending trendline
B)Flag patterns are considered continuation structures
C)The first breakout of the Flag pattern we think was a fake out to catch short entries with a tight stop
D)Now the price is making a pullback to the broken Flag pattern, we think this is a clear scenario for a short setup + The daily trendline working as resistance
E) We can see a Head and Shoulders formation, on a key reversal zone
F) Our Entry and Stop are positioned on what we consider are the most secure zones to open and close the trade in case doesn't goes as expected
G) Our Take profit is above the support zone and we will Break Even on the neckline of the Head and Shoulders pattern.
DAILY VIEW
Main Items we see on the 4HS CHART:
A)Price made a Flag pattern suported by the daily descending trendline
B)Flag patterns are considered continuation structures
C)The first breakout of the Flag pattern we think was a fake out to catch short entries with a tight stop
D)Now the price is making a pullback to the broken Flag pattern, we think this is a clear scenario for a short setup + The daily trendline working as resistance
E) We can see a Head and Shoulders formation, on a key reversal zone
F) Our Entry and Stop are positioned on what we consider are the most secure zones to open and close the trade in case doesn't goes as expected
G) Our Take profit is above the support zone and we will Break Even on the neckline of the Head and Shoulders pattern.
DAILY VIEW
Note
On the Daily Chart, we can see a Gravestone Doji just after the Bearish Engulfing, those are 2 powerful bearish signals, our setup parameters keeps as explained on the posted chartTransaction en cours
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.