Crude oil, this is how we trade STRUCTURE

FX:USOIL   Crude Oil (WTI)
417 3 12
Guy's have a look at my context and wave count for crude oil             below because this is only a 15 min time frame to show how to trade an analysis.
Oil update and price action projection

It seems like oil             is about to reverse in the beginning of next week and this is how I would trade it. Sell the continuation lower. We saw a minor impulse lower (5 min) exactly form the determined high prob zone. IF we see a bearish continuation in the beginning of next week I will sell Oil             . Then we have 2 scenario's, we are either unfolding in the shape of an 1-2-3 reversal pattern on the 1 hour time frame for a buy trade as explained in my previous post. OR we continue lower towards the next high prob zone as explained in my previous post as well.
Focus on a few instruments is key in trading, this is what I did as an investment banker and that's for a reason. Don't try to trade all pairs, analyze high probability set-ups. Determine what pair/instrument is best for you (time zone, familiarity with the characteristics, how much time you spend trading) and select those and stick with them for the week. Opportunity costs should be ignored because they will impact your emotion which is a bad habit for a trader. A professional doesn't care about pips, it is all about Risk/Reward and probability. And all pairs provide many set-ups when looking at different time frames. Oil             for example is fantastic whether you are a bull or bear .

Good trading week for you all and hope this explanation about how to look at structure, understanding scenario's and at all times keeping an open mind was informative because even if we move higher from here the principle of trading structure remains the same, impulse-correction-impulse...


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What about another retest of the bottom (40.55) and then up a to 43-45?
TimStuyts tbuckle
Sure could be, arrows are indication to show the two scenario's.
Thank you for the advice.
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