We swept the lows on the 4H OB. Considering this might be an SFP, taking a LONG towards the FIB 0.79. There is also a bullish divergence present on the RSI which gives another impulse for a LONG.
Here is the show of oil, for now he gives us to see that he want to go up more so we can follow with him, as we can see that he did more than restesting, now in consolidation to boost to up
Have a nice Investement or trade
See prior link below
I found that that making a setup with a trigger for both long and short makes me to not have a bias. I do what my set up says. In this trade my long trigger was hit so I took the trade and it worked out great. It is hard to go wrong with doing a short and long setup. Then you don’t worry about direction.
Let me know how you decide when...
This is a bottom broadening wedge where price enters from above and touch the lower line first. This is usually a reversal pattern but really it can break out either way.
Usually after wedge is validated-( 2 touches of both lines but ideally at least 3 touches on one of the lines)- you will see a partial rise (or fall) before reversing again. I believe we are in...
For intraday investment, we expect that the CL could be in an upward trend for the next hour, Signs assure that, especially the new high volume in comparison to previous ones.
What we will wait for is this increasement and a new red volume that confirms sellers are taking control again, so taht we can sell and take profits.
This week, oil failed to overcome resistance at a price of 66.55 (January). The EMA 50 was pierced, followed by a rebound from the EMA 200. The nearest resistance is 65.51, in case of not overcoming this level, the pattern is possible: a double top with a signal for a short position. Nearest support 64.66.
In the near future, more likely to retest the...
