Trade Idea for a Short Scenario on Crude Oil by ThinkingAntsOk

NYMEX:CL1!   Light Crude Oil Futures
Use this as a guide to develop your setup:

Main items we can see on the 4hs chart:

a)The Price was rejected from a major resistance zone
b)Currently, we can see the price on the lower trendline of the ascending channel
c)If you are thinking about trading short scenarios, we will wait for a corrective structure in the current area.
d)The corrective structure must be an ABC or an ABCDE Pattern (Triangle/Zig-Zag/Flat/Irregular)
e)If that happens we will set short orders as shown on the chart

Remember we are not discarding a long scenario here (a bounce on the trendline ) we are just explaining what would be an optimal scenario for short trades.
Thinking Ants.
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