Let's wait for the correction / Crude Oil by ThinkingAntsOk
Use this as a guide to develop your view of the situation:
Main ítems we can see on the 4hs Chart:
a)We have 2 descending trendlines, one has been broken, and the other one isn't
b)In general, after a structure is broken, we should expect a correction or a retest of that broken structure
c)In this case, we will wait for a correction with similar proportions to the two yellow lines we draw on the chart
d)If the Price makes something similar to that pattern (it can be a zig-zag / Flat / Irregular / Triangle) we Will be trading long towards the 2nd descending trendline
e)By the moment, this is just an analysis let us know what you think on the comments.
Main ítems we can see on the 4hs Chart:
a)We have 2 descending trendlines, one has been broken, and the other one isn't
b)In general, after a structure is broken, we should expect a correction or a retest of that broken structure
c)In this case, we will wait for a correction with similar proportions to the two yellow lines we draw on the chart
d)If the Price makes something similar to that pattern (it can be a zig-zag / Flat / Irregular / Triangle) we Will be trading long towards the 2nd descending trendline
e)By the moment, this is just an analysis let us know what you think on the comments.