Supply zone on oil allow to have a quick overview to where price
is heading next
Hi everyone! here we got an exemple of a very nice resistance which already was rejected 3 times. each time stronger and stronger
price formed lower lows allowing to draw a trendline. we could name this pattern a megaphone, it looks like it.
price is already forming several dojis which shows the indecision for now, and stochastic is clearly oversold. it should begin to drop from here. Entering now is a good opportunity to catch a very sharp fall and having a tight SL
next target is 60, tp's are on chart.
Hi everyone! here we got an exemple of a very nice resistance which already was rejected 3 times. each time stronger and stronger
price formed lower lows allowing to draw a trendline. we could name this pattern a megaphone, it looks like it.
price is already forming several dojis which shows the indecision for now, and stochastic is clearly oversold. it should begin to drop from here. Entering now is a good opportunity to catch a very sharp fall and having a tight SL
next target is 60, tp's are on chart.
Trade active
Trade closed: stop reached