On Day TF, market is creating HLs, while and no LLs or LHs (Descending triangle), last week market created H&S pattern on the supply zone and falls Support of 99$, we were looking for market to fill the inefficiency it has created with this impulsive bear run, when market fills the inefficiency and went up till 105.4$ it created falling wedge pattern on 1hr...
As we can see in the chart Price is creating LHs & LLs and is rejecting from Resistance trend line, last week price touched 95$ which is acting as a recent Demand Zone (Market created DB there and went up till 116$)
If we see a high volume breakout of the supply zone (R) of 98-99$, which will also be a breakout of R Trend line, we can go long till 105$ (TP1) and...
After making huge bullish move last week, now we can clearly see that Crude is now in correction phase, as we can see on the chart price is creating LHs now, so if price gives us a high volume break and retest of trend line we can go long till 95$.
and if price starts to fall down we can again look for long trade opportunity as recent Price action Support zone it...
Here we can see that Crude is Bullish and has been consolidating since last week, and now in range between 86.3 and 88.4
for long entry we'll look for break and retest of the supply level of Range, our target will be 90$ (psychological price) it is a very basic break and retest strategy
we'll also have to keep Smart money concept on our mind as sometimes...
GBP/USD creating HHs and HLs, on 8hr TF it was creating LHs and LLs but didn't create new Lower high, it breaks and retested that supply zone,
so looking for long trade here after price create some pattern on 1hr or 15 Min time frame.
