TradingView
sanasaeed
Jul 20, 2022 5:13 PM

USOIL Short: Shooting Star at 4hr Resistance LevelΒ Short

WTI CRUDE OILTVC

Description

β‹…
Trend: The overall trend of the chart is downwards.
Candle Sticks: Formation of shooting start at the LH of the chart.
Support & Resistance: Price is testing the 4he resistance area by making an LH with a shooting star.
Reasoning: The formation of a shooting star at the LH of the 4hr resistance area strongly indicate the price will go down.
SL: Place at the previous LH of the chart.
TP1, TP2, TP3: Placed according to the Fibonacci retracement levels.
Comments
Amarsab
β‹…
πŸ‘
locosempire
β‹…
It needs to fill the gap imo
sanasaeed
β‹…
@locosempire, why is the reason behind this?
locosempire
β‹…
@sanasaeed the gap is the reason…
sanasaeed
β‹…
@locosempire, how often did it fill the gap, or how long does it takes?
More