Hello traders, today I propose my vision of oil in which I identify a trigger for short sell entry in favor of the main bearish trend.
Thanks to the use of my indicators created specifically for my way of seeing the markets, I highlight the beginning of the bearish structure which begins on October 3, 2023, so from then on I will only see short opportunities.
Subsequently comes the negative trend signal confirmed on November 15th and today I see an FT Short trigger on a very inviting price action of Fake Out.
In the last 4 candles we can see an inside that is broken upwards but creating a false break, then the price goes back forming a reversal candle whose minimum is broken today creating the entry trigger.
Price action that forms after a retracement and in a phase of short-term bullish mini structure that brings the price into the bearish TrendCloud / ema21 area, another reason to favor entry in favor of the main trend.
The trade is already active since the break of the daily minimum, but I am looking for a further entry on retracement of the 4H chart (with reduced size) in the 74 area, with a stop immediately above the highs in the 75.60 area and honest take profit in the lows area prior to 70.20 thus having a R:R trade of 1:2.4 which is not bad at all.
This is not an invitation to invest but just a sharing of my trading idea.
👍 Did you enjoy this share? If you also agree with my view, give it a like, I would appreciate it very much 😁
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🔑 Get free access to all my indicators for a week, or write to me to find out how to get free lifetime access
TAGS:
WTI1!
USOIL
USOIL.F
USOILSPOT
Thanks to the use of my indicators created specifically for my way of seeing the markets, I highlight the beginning of the bearish structure which begins on October 3, 2023, so from then on I will only see short opportunities.
Subsequently comes the negative trend signal confirmed on November 15th and today I see an FT Short trigger on a very inviting price action of Fake Out.
In the last 4 candles we can see an inside that is broken upwards but creating a false break, then the price goes back forming a reversal candle whose minimum is broken today creating the entry trigger.
Price action that forms after a retracement and in a phase of short-term bullish mini structure that brings the price into the bearish TrendCloud / ema21 area, another reason to favor entry in favor of the main trend.
The trade is already active since the break of the daily minimum, but I am looking for a further entry on retracement of the 4H chart (with reduced size) in the 74 area, with a stop immediately above the highs in the 75.60 area and honest take profit in the lows area prior to 70.20 thus having a R:R trade of 1:2.4 which is not bad at all.
This is not an invitation to invest but just a sharing of my trading idea.
👍 Did you enjoy this share? If you also agree with my view, give it a like, I would appreciate it very much 😁
💖 Remember to follow me so you don't miss my future analyses.
🔑 Get free access to all my indicators for a week, or write to me to find out how to get free lifetime access
TAGS:
WTI1!
USOIL
USOIL.F
USOILSPOT
Trade closed manually:
Price action failed. It didn't make the move I expected so I closed the trade at a slight loss. If it were to go in the direction, patience. When things don't go right it's better to close everything and wait for better times.
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