Here we can see that Crude is Bullish and has been consolidating since last week, and now in range between 86.3 and 88.4
for long entry we'll look for break and retest of the supply level of Range, our target will be 90$ (psychological price) it is a very basic break and retest strategy
we'll also have to keep Smart money concept on our mind as sometimes Institutional Investors hunts our SLs and then makes the market go in the direction where it was supposed to go, so place your SLs nicely and look for long wicks on bigger TF if Trade hit SL
for long entry we'll look for break and retest of the supply level of Range, our target will be 90$ (psychological price) it is a very basic break and retest strategy
we'll also have to keep Smart money concept on our mind as sometimes Institutional Investors hunts our SLs and then makes the market go in the direction where it was supposed to go, so place your SLs nicely and look for long wicks on bigger TF if Trade hit SL
Comment:
We get a clean breakout with high volume but market didn't give us the retest and impulsively comes backs to the place it was ranging
Comment:
Setup Update, market breaks the Resistance level again and now this time retested on 1hr TF and then going in our directions