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jojofang0901

OIL Hit Previous highs, expect bearish reversal

Short
CFDs on WTI Crude Oil (TVC:USOIL)  
jojofang0901 Updated   
TVC:USOIL   CFDs on WTI Crude Oil
Chart Patterns Parallel Channel Flag priceaction structure pattern impulse correction Wedge
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chartpattern parallelchannel flagpattern priceaction structure pattern impulse correction wedgepattern

Hi traders:

We can see price has finally reach the previous higher time frame highs, and potential double tops in the making.

Price then formed a smaller, lower time frame ascending channel while in the larger, higher time frame parallel structure.

All good bearish confluences price action.

Latest price has shown us a strong push down from the price after reversal from the HTF double tops.

Wait for price to breakout completely, and look for LTF continuation correction to complete before looking for the sell entry.

Thank you
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