We may be discussing now what is better in OIL now : LONG or SHORT ,
We cannot predict the market , but ofcourse try to speculate based on technical studies , Since Moving averages and all other indicators are lagging ones we prefer trendlines and support resistance to make our trading without emotions as much as possible ,
Now coming at chart , we can see that price has been able to penetrate 65 but got rejected just before reaching 67 because of which price has re-entered our multi days old ascending channel and back in previous range..
This itself is not a sell signal but for sure exhaustion in bullish pressure.
This also suggests that we may see deeper retracement towards bottom of ascending channel for support ,
Hence we can wait price to retraceback to support zone and enter Long from there and in process we can also short in Lower time frames in scalping intraday .
Follow the chart & support resistance zone : No-Emotion-FX
We cannot predict the market , but ofcourse try to speculate based on technical studies , Since Moving averages and all other indicators are lagging ones we prefer trendlines and support resistance to make our trading without emotions as much as possible ,
Now coming at chart , we can see that price has been able to penetrate 65 but got rejected just before reaching 67 because of which price has re-entered our multi days old ascending channel and back in previous range..
This itself is not a sell signal but for sure exhaustion in bullish pressure.
This also suggests that we may see deeper retracement towards bottom of ascending channel for support ,
Hence we can wait price to retraceback to support zone and enter Long from there and in process we can also short in Lower time frames in scalping intraday .
Follow the chart & support resistance zone : No-Emotion-FX
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.
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.