BRENT OIL is approaching strong resistance and supply from Weekly (68-70) so we will be looking for sell setups on lower timeframes.
on H4: BRENT OIL is forming a channel in red, but the lower red trendline is not valid yet, so we will be waiting for a third swing low to form around it to consider it our trigger swing. (projection in purple)
We can't really know where that swing low will form around the trendline, but the closer BRENT OIL approaches the resistance, the better.
Trigger => Waiting for that swing to form and then sell after a momentum candle close below it (gray zone)
Until the sell is activated, BRENT OIL would be overall and can still test the 70.0
And of course, as BRENT OIL approaches our lower blue support, we will be looking for buy setups.
All Strategies Are Good; If Managed Properly!
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