First, let's think about a few factors.
1. Trends
2. Key level
3. Entry signal
Trend: The green arrow connects three decreasing highs, indicating a downward trend. Despite the breakthrough of the declining B-high, we can temporarily turn to short-term bullish thinking. But as long as we don't break point C, we're still short on BRENT. Don't go against the trend.
Key level: This short wave starts at point A and produces three important structures (white circle area). Every time the price tentative structure, there is a strong response - many are eliminated, prices plummet.
This callback, breaking through the high point B of 4H downward trend, and gradually approaching the top structure + 618, then it will obviously be a key position here.
Signal: So now we have two plans.
1. Withdraw to the opening price of point B, enter the market as much as 618, reduce the warehouse; then see if it breaks through 618 before deciding whether to leave or not.
2. Wait for 618 pinbar, shorting to B-point opening price, after reduction, push protection.
UKOIL
1. Trends
2. Key level
3. Entry signal
Trend: The green arrow connects three decreasing highs, indicating a downward trend. Despite the breakthrough of the declining B-high, we can temporarily turn to short-term bullish thinking. But as long as we don't break point C, we're still short on BRENT. Don't go against the trend.
Key level: This short wave starts at point A and produces three important structures (white circle area). Every time the price tentative structure, there is a strong response - many are eliminated, prices plummet.
This callback, breaking through the high point B of 4H downward trend, and gradually approaching the top structure + 618, then it will obviously be a key position here.
Signal: So now we have two plans.
1. Withdraw to the opening price of point B, enter the market as much as 618, reduce the warehouse; then see if it breaks through 618 before deciding whether to leave or not.
2. Wait for 618 pinbar, shorting to B-point opening price, after reduction, push protection.
UKOIL