Can the HOUSE CAPITALIZE Long above $80.00 Per Barrel...?
CL1!
"If you train hard, you'll not only be hard, you'll be hard to beat." -Herschel Walker
Oil has been struggling to Break above $80.00 Per Barrel roughly this whole month of MAY and this week we could actually see buyers gain strength and get over the hump... However that is a long shot prediction! Now if this actually does come to pass then this is what I'll need to see in order to go LONG...
1) Price is currently trading around a 4Hr Supply Zone. ** I want to see buyers push price up N break the supply zone and continue towards the HTF S&R Zone....
2) We have a HTF Descending eR/LQ Trendline that I want to Buyers Breakout N push towards $80.00 Per Barrel... I would like to see a retest of the Failed 4Hr Supply Zone and eR/LQ trendline for buyers to gain more strength for pushing towards our target...
3) Now if we can get the sequence of events to take place that I stated above, Then we will wait for the break above $80.00 Per barrel with confirmed candle closures above price and above the S&R Zone... I want to see confirmed candle closures on the 30m TF N Below to establish conviction in the move from buyers to enter LONG....
4) Now if we can get the Break above $80.00 Per barrel with confirmed candle closures above price and above the S&R Zone then I'll Enter LONG and Target the break of the 4Hr Supply Zone price ($81.10 Per Barrel) 110 pts to be exact in our favor... Ill set my stop just below the S&R Zone EQ Level giving me roughly around a 2.7RR....
Remember when it comes to FRM (Financial Risk Management) our job is to manage the downside costs of printing High side returns of $$$ consistently... Let's Step!!
Stay Focused & Reach Excellence!!
#BHM500K #NewERA #Champions
Comment:
4Hr Supply Zone was broken as predicted...
Comment:
Price is moving as predicted... 4Hr Supply has been broken and now were approaching the Descending eR/LQ Trendline that I want to see buyers break...Remember nothing in the market is a certain let's stay focused and adapt to PA!!! #BHM500K
Comment:
We have officially broken the Descending eR/LQ Trendline that I want to see buyers break... Now we are currently trading at the S&R Zone.... Lets see what happens now!! #BHM500K
Comment:
Beautiful!!
Comment:
30m TF PA looking real good at the moment as well!!
Comment:
Breaking!!!! Price has broken above $80.00 Per Barrel... Now we wait patiently for the candle closures on the 30m TF N Below.... #BHM500K
Comment:
WE have now all the confirmation we need to go long! 30m TF N below Candle closures above $80.00 Per barrel ... Ill be setting my limit at this 30m inside bar covering the low for my STOP and targeting 4Hr Supply High... Let's be patient and await the TAG!!!
Comment:
Patience Yung Bull.....Patience -Management500K
Trade active:
NY OPEN and we just received the TAG LONG!!!! Remember to Manage professionally w/ NO EMOTION! #BHM500K
Trade closed: stop reached:
I must say... I'm a little irritated but ima get back in it once we get a conf. 15m CHoCh to the upside....
Comment:
I did expect for Sellers to come in so strong this morning during NY Session being that we broke above $80.00 Per Barrel and closed above on the 4Hr TF.... As we can see previously price tried to enter the 4hr Zone and break above the MJK however were met with immediate sellers who pushed the market down.... Once we got the confirmed break and candle closure above $80.00 Per Barrel thats what I needed to see to enter LONG... however Sellers came in and pushed price rii back down....All good this is the game of probability nothing is for sure! Every single trade is unique.... On to the next set up #BHM500K