Correction coming on Crude Oil by ThinkingAntsOk
Use this as a guide to develop your view of the chart.
Main items we can see on the 4HS Timeframe:
a)After the negative prices we saw on Crude Oil Futures, we had a rising in price towards current levels.
b)The price made a breakout of a yellow descending trendline
c)Most of the times when a structure is broken we will see a clear correction with similar proportions to the broken structure
d)Now we will be waiting for a clear correction on the Edge of the Yellow trendline before trading
e)If that happens, we will be in front of an excellent opportunity to look for long setups.
Main items we can see on the 4HS Timeframe:
a)After the negative prices we saw on Crude Oil Futures, we had a rising in price towards current levels.
b)The price made a breakout of a yellow descending trendline
c)Most of the times when a structure is broken we will see a clear correction with similar proportions to the broken structure
d)Now we will be waiting for a clear correction on the Edge of the Yellow trendline before trading
e)If that happens, we will be in front of an excellent opportunity to look for long setups.