Short sell USOIL
- BOS on 4hr tf
- Got a confirmation on 1 hr tf
- Couldn't create a new high
- Liquidity grabbed
- Imbalance left
All the above stated factors seemed favorable for a short trade in USOIL.
This pair trending downwards continuously from past many days gave a good setup to sell....analysis is explained in the pic
1. 4hr BOS
2. imbalance yet to be filled
3. liquidity left to be grabbed
4. entry taken on 30 min BOS(since 1hr tf did not trigger entry)
As published earlier, USOIL started reversing from our POI, since there was no proper confiramtion near our POI I had to wait for a break of structure in lower timeframe to enter, fortunately we got triggered and I've trailed the stop loss to my entry price.
USOIL is continuously trending downwards, and being biased is good for short term to medium term. My bias is on short side until major trend or market structure changes, reason being:
1. Major Break of structure
2. liquidity inducement still left in the market(retail liquidity)
3. orange boxes are possible Point of interest to enter shorts
4. check out on 1 hour...
