After the test of the lower support at the 66 level and the recent decision of several top producers led by Saudi Arabia to output cuts the price is back at the top of the previous range between 72-82.
I can see the gap which has to be filled sooner or later but in this moment the target might be the upper level where a lot of liquidity stays.
How can i approach this scenario?
I will wait for a potential break of the resistance area and in that case i will move on the 4h chart to check for a nice entry according to the Plancton's strategy rules.
If the price will move to the gap i will monitor the supports on the 4h time frame to identify a possible lower entry according to the MTB Strategy.
I can see the gap which has to be filled sooner or later but in this moment the target might be the upper level where a lot of liquidity stays.
How can i approach this scenario?
I will wait for a potential break of the resistance area and in that case i will move on the 4h chart to check for a nice entry according to the Plancton's strategy rules.
If the price will move to the gap i will monitor the supports on the 4h time frame to identify a possible lower entry according to the MTB Strategy.
Comment:
moving in the expected area
Comment:
trading in the liquidity zone