Crude Oil USOIL Next Leg Down IF FIB 0.5 doesn't hold as support
I HAVE PERSONALLY BEEN VERY BEARISH ON OIL FOR A LONG TIME NOW
I TOOK A SMALL LONG AROUND B WHEN WE HAD 4 PLUS 4HOUR REJECTIONS BUT NOW LOOKING SHORT AGAIN
HERE IS WHY:
-ABCD IN PLAY HERE REJECTED FROM THE 0.618 MAJIC RETRACEMENT AREA 3 TIMES ON THE 4H
-BREAK IN STRUCTURE TRENDLINE AS YOU CAN SEE
-ITS A BEAR TREND ALREADY MAKING LH LL LH LL
-I DONT USE THEM VERY OFTEN BUT THE EMA AND MA CROSSING OVER COULD BE YOUR ENTRY
-BIG WICKS AROUND ARE OF REJECTION SAYS SHORT
-WAIT FOR THE CLOSE BELOW THE 0.5 RETRACEMENT AND THE DIAGONAL TRENDLINE YOU CAN SEE AROUND PRICE ACTION NOW
I TOOK A SMALL LONG AROUND B WHEN WE HAD 4 PLUS 4HOUR REJECTIONS BUT NOW LOOKING SHORT AGAIN
HERE IS WHY:
-ABCD IN PLAY HERE REJECTED FROM THE 0.618 MAJIC RETRACEMENT AREA 3 TIMES ON THE 4H
-BREAK IN STRUCTURE TRENDLINE AS YOU CAN SEE
-ITS A BEAR TREND ALREADY MAKING LH LL LH LL
-I DONT USE THEM VERY OFTEN BUT THE EMA AND MA CROSSING OVER COULD BE YOUR ENTRY
-BIG WICKS AROUND ARE OF REJECTION SAYS SHORT
-WAIT FOR THE CLOSE BELOW THE 0.5 RETRACEMENT AND THE DIAGONAL TRENDLINE YOU CAN SEE AROUND PRICE ACTION NOW
Transaction en cours
We're heading south :)
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Publications connexes
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.