We have Potential Short setup developing crude oil hourly chart.
Please refer chart for details.
Trade with care,
CD leg overstretched for the BAT pattern ( time factor) -- So will not short as per the pattern levels...
will be looking to short at 61.8 fib level of last wave if get good price action.. will post as a separate thread later.
Alternate trade setup is looking of breakdown of H &S ( last screenshot)
A short-term buy setup developing on chart
Last price 63.07
It was quick 100+ point trade in MCX crude ..
Trade closed: target reached:
Last price 63.2 -- Closed the remaining positions , will look for new setups in next week.
As the price is getting higher and near to the next structure levels -- we have some short setups developing.. will be watching to short the Oil at highlighted zones if price action good ( lower time frame double top / candle stick formation/indicators etc can be used to enter)
Strong upward price action in zone 1 -- looks like will have to wait for zone 2