Hello everyone 👋
Today I bring USOIL.
My idea is based on the nature of the market and market phases.
USOIL has been moving bearish for a while now
HTF : We had a bearish Impulse phase followed by a continuation flag pattern , the chart broke out but continued to move out correctively forming a Descending Pattern and giving us a pattern separation (corrective phase into corrective phase)
LTF : The market reached the bottom of the bullish structure and gave is a reversal impulse to the upside.
💡What I would like to see is the chart push out of the structure and form a continuation flag pattern to confirm more bullish upside . If the chart approaches the structure in a corrective nature I would wait for more development and not take the trade while sill in the HTF correction.
Thank you
Today I bring USOIL.
My idea is based on the nature of the market and market phases.
USOIL has been moving bearish for a while now
HTF : We had a bearish Impulse phase followed by a continuation flag pattern , the chart broke out but continued to move out correctively forming a Descending Pattern and giving us a pattern separation (corrective phase into corrective phase)
LTF : The market reached the bottom of the bullish structure and gave is a reversal impulse to the upside.
💡What I would like to see is the chart push out of the structure and form a continuation flag pattern to confirm more bullish upside . If the chart approaches the structure in a corrective nature I would wait for more development and not take the trade while sill in the HTF correction.
Thank you