Weekly and 4HS analysis + Trade idea on Crude Oil ThinkingAntsOk
Use this as a guide to develop your view of the chart:
FIRST, let's start with the Weekly Chart:
a)The price is on the lower trendline of a massive corrective Structure + Support zone
b)We expect a Bullish movement on the long term towards the next Dynamic Resistance zone
c)ABCDE Patter is finished. We should deduce a bullish movement
SECOND, let's go to the 4hs chart:
a)The price is on the massive Support zone of the Weekly chart on its 3rd attempt to break it.
b)If the price failed. We should expect a bullish movement towards the secondary trendline of the bearish movement (4HS Target)
c)We will wait for an impulse and a small correction
d)We will set our orders above the structure and our stop below it.
e)Our Expected Risk Reward Ratio will be 1.8 more or less.
FIRST, let's start with the Weekly Chart:
b)We expect a Bullish movement on the long term towards the next Dynamic Resistance zone
c)ABCDE Patter is finished. We should deduce a bullish movement
SECOND, let's go to the 4hs chart:
a)The price is on the massive Support zone of the Weekly chart on its 3rd attempt to break it.
b)If the price failed. We should expect a bullish movement towards the secondary trendline of the bearish movement (4HS Target)
c)We will wait for an impulse and a small correction
d)We will set our orders above the structure and our stop below it.
e)Our Expected Risk Reward Ratio will be 1.8 more or less.