OANDA:US30USD
US3O retested at 50% Fibonacci PRZ and had tested twice at that area and formed a bearish engulfing candle on the 4H and 1H timeframe. This confluence creates a confirmation for the continuation of the bearish trend.
Hello guys,
Based on the chart, price rejected from a major resistance area for twice! So as the main trend is downward, It can be a good choice to sell at this area to the specified targets which are shown on the chart.
Note: This post will be update base on market reaction.
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This is the setup that I have been waiting for (for a while now). The confluence of factors on this setup makes it a high quality trading setup in my opinion and here is what I'm watching:
1. Bearish pin bar
2. Moving average pinned
3. Previous support pinned as resistance
4. 50% fibonacci retracement level tested
My view is that price is likely to fall from...
