USOIL - Is The Rejection At 95 Confirmed? Neutral Bias
Hi Traders. I've been talking about selling opportunities on Oil, just because of how the Price Action is telling sellers' in control.
But last Thursday basically price formed a relatively large reversal Doji pattern at 95, which actually held me back from further short setups.
One thing to remind yourself, most of the time the more obvious something is, the less likely it's going to happen.
In this case, if you compare the Doji candle to most of the previous candles, it's quite significant.
So, even after i notice such a strong candle rejecting support, I'd still not shift my bias from Bearish to Bullish yet.
But I'd like to observe how price moves afterwards.
I'm being very neutral on Oil for now, will keep you all updated.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
But last Thursday basically price formed a relatively large reversal Doji pattern at 95, which actually held me back from further short setups.
One thing to remind yourself, most of the time the more obvious something is, the less likely it's going to happen.
In this case, if you compare the Doji candle to most of the previous candles, it's quite significant.
So, even after i notice such a strong candle rejecting support, I'd still not shift my bias from Bearish to Bullish yet.
But I'd like to observe how price moves afterwards.
I'm being very neutral on Oil for now, will keep you all updated.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
