Oil has shown us clear price action where we can see an impulse, ABC correction and now we're in the next impulse phase.
The weekly timeframe indicates that the bullish wave is over and we may see a deeper correction now.
A simple way to enter Oil SHORTS is by waiting for a correction on lower timeframe.
Trade Idea:
- Watch for any sort of corrections on lower timeframe
- Enter with stops above that correction
- Targets: 94, 85
What do you guys think?
The weekly timeframe indicates that the bullish wave is over and we may see a deeper correction now.
A simple way to enter Oil SHORTS is by waiting for a correction on lower timeframe.
Trade Idea:
- Watch for any sort of corrections on lower timeframe
- Enter with stops above that correction
- Targets: 94, 85
What do you guys think?
Comment:
Watching this trendline for a break. Invalidation of short setup is the recent high structure level
Comment:
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