I sent out a bullish chart on Oil on Friday, as the instrument went back to retest highs.
As per the chart, it did not confirm the bullish break by taking out the 46.04 level, for the ABC up.
We have however, taken out the lows, and broken the up channel. This is a strong short setup.
It remains to be seen if we retest the upper channel line of the new down channel, currently we are retesting the broken channel. So I will be looking for reversal candles to enter a short position, but allowing the instrument some time (at least into NY) to see if it can retrace further higher to get a better entry.
As per the chart, it did not confirm the bullish break by taking out the 46.04 level, for the ABC up.
We have however, taken out the lows, and broken the up channel. This is a strong short setup.
It remains to be seen if we retest the upper channel line of the new down channel, currently we are retesting the broken channel. So I will be looking for reversal candles to enter a short position, but allowing the instrument some time (at least into NY) to see if it can retrace further higher to get a better entry.
Dagangan aktif
We have posted a 1H bearish engulfing candle. I have entered the short, with stops above 44. If the instrument does a bullish turn and stops me out, I will look to re enter from higher.
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.