Hello All!
The current price action shows us a potential (short term) bottom on crude oil. We can expect the price to test the prior horizontal structure if we can print a double bottom with a higher low. That would activate an intraday/swing buy with a healthy risk to reward. The break of the linear trendline would become an extra confirmation, but as price action trader I always look at the lower timeframe candles for entries.
Good luck!
The current price action shows us a potential (short term) bottom on crude oil. We can expect the price to test the prior horizontal structure if we can print a double bottom with a higher low. That would activate an intraday/swing buy with a healthy risk to reward. The break of the linear trendline would become an extra confirmation, but as price action trader I always look at the lower timeframe candles for entries.
Good luck!