Reasons to be be short:
- Breakout of Bearish Flag
- Right shoulder completion of Head & Shoulders
- Touch of pivot point, 200ma, and flag
- Elliot Wave Correction
- Potential leg CD of a bullish crab forming
Please take a look at my crude oil chart description to view the fundamentals behind this trade
I'm expecting USD to decrease in value relative to other currencies by FED policies such as Quantitative Easing & NIRP
We may not see this until after the US elections to ensure a Clinton victory, but i assure you they cannot tolerate deflation and will print their way out of it so long as they can
I feel the FED's actions will lead to increasing inflation over...
I've been following this pair for a while now, and we are in the zone to be looking for shorts
Chart shows all
The only thing that worries me is the recent bullish price action, although we do have a doji candle that closed on friday, so I am hoping to see a bearish candle on monday
Take a look at the monthly and you can see we have a completed bearish Gartley...