Daily and Weekly Analysis on US OIL by ThinkingAntsOk
Use this as a guide to develop your own setup:
Main items we can see on the Daily Chart:
a)The price made a fake on the Beairhs trendline and then re-enter the zone again
b)Currently, we can see a Corrective Structure
c)The Corrective Structure is on a major Support zone, the last level the price has before going to the next support zone at 43.00
d)We will be waiting for the breakout of the Structure on a lower timeframe, such as 1H, and we will look for a small correction below the current structure.
e)If the situation explained in the previous item happens, we will trade the breakout.
Weekly Vision:
Main items we can see on the Daily Chart:
a)The price made a fake on the Beairhs trendline and then re-enter the zone again
b)Currently, we can see a Corrective Structure
c)The Corrective Structure is on a major Support zone, the last level the price has before going to the next support zone at 43.00
d)We will be waiting for the breakout of the Structure on a lower timeframe, such as 1H, and we will look for a small correction below the current structure.
e)If the situation explained in the previous item happens, we will trade the breakout.
Weekly Vision:
