Trap of the day Crude Oil (Tuesday 7/14/20)

15 juil. 2020

Notice how the third trendline tap is a strong bearish candle that breaks out just below the 39.50 key level. It is followed by a bearish pin bar candle that failed the retest of 39.50. The next candle breaks the trend line but doesn't break the asian session low of 39.08 (but appears as if momentum will push it lower). All strong signals for a sell right? That's the exact moment when price shifts back to 40.50 to close the day.