FxcInvesting
Long

Crazy but possible head and shoulders on OIL daily...

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
241 4 4
A note on lower timeframe confirming price action…

Waiting for lower timeframe confirmation is our main tool to confirm strength within higher timeframe zones, and has really been the key to our trading success. It takes a little time to understand the subtle nuances, however, as each trade is never the same, but once you master the rhythm so to speak, you will be saved from countless unnecessary losing trades. The following is a list of what we look for:

- A break/retest of supply or demand dependent on which way you’re trading.
- A trendline break/retest.
- Buying/selling tails/wicks – essentially we look for a cluster of very obvious spikes off of lower timeframe support and resistance levels within the higher timeframe zone.
- Candlestick patterns. We tend to only stick with pin bars and engulfing bars as these have proven to be the most effective.

We search for lower timeframe confirmation between the M15 and H1 timeframes, since most of our higher-timeframe areas begin with the H4. Stops are usually placed 5-10 pips beyond confirming structures.
fensydyl
3 months ago
good work but we should not trust oil .......its craZzy :p we will probably see short term direction after today news. Thanks
+1 Reply
santaa78it
3 months ago
And now? Which is your strategy?
Reply
agreee with you
+1 Reply
nepaldude41
3 months ago
If this neck is broken on the upside. We will see 80 dollar oil
Reply
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