the WTI is in a DESCENT downtrend following the 8,13, and 21EMA. in other to enter the trend through one of the pull backs, we need to wait for what we called the area of value. in this case, the area of value is the recent resistance level. currently the pair is in the area of value and a bearish engulfing pattern have been formed. this means the pair is given us indication that sellers are about to take over. however, in other to enter this trade, we had to put up a pending Oder (sell stop) below the close of the bearish engulfing pattern, and the target level will be the next support level.
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correction: that 1H S is suppose to be 1H R. which means, its 1h resistance
please guys feel free to like and comment on my idea and don't forget to click the follow button so you can be notified when i post new trading idea, cheers.
correction: that 1H S is suppose to be 1H R. which means, its 1h resistance