2204 4h plan WTI buy from the support line of the channel?
Hello traders
WTI usoil has made a reversal signal on this flat channel on Tuesday after a strong impulse leg start from last week. It took almost a whole week to finish this swing. The new swing from the reversal signal on 4h chart now seems slow down with a new flat channel like this on 4h chart.
It is not a good idea to open sell now but if price would be rejected from the upper band of the channel to test 60 like this five waves, it would not be a surprise. On that case, we should wait for a new chance to buy on 60.
But this plan on WTI crude oil today is waiting for a reversal signal like it happened on Tuesday to follow the main trend on daily / weekly chart. So what is happening on WTI would only be a 4h correction. It could target daily last high, up to 68.
And if there was a confirming buying signal on 4h chart, that would make a potential RR>10 by approaching 4h last high.
So this is plan to buy WTI today.
Don’t forget to support me with likes or comment down there to let me know your thoughts.
Good luck!!!
LESS IS MORE!
WTI usoil has made a reversal signal on this flat channel on Tuesday after a strong impulse leg start from last week. It took almost a whole week to finish this swing. The new swing from the reversal signal on 4h chart now seems slow down with a new flat channel like this on 4h chart.
It is not a good idea to open sell now but if price would be rejected from the upper band of the channel to test 60 like this five waves, it would not be a surprise. On that case, we should wait for a new chance to buy on 60.
But this plan on WTI crude oil today is waiting for a reversal signal like it happened on Tuesday to follow the main trend on daily / weekly chart. So what is happening on WTI would only be a 4h correction. It could target daily last high, up to 68.
And if there was a confirming buying signal on 4h chart, that would make a potential RR>10 by approaching 4h last high.
So this is plan to buy WTI today.
Don’t forget to support me with likes or comment down there to let me know your thoughts.
Good luck!!!
LESS IS MORE!
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