Crude Oil Positional Trade . The Crude oil was in Downtrend forming Lower Highs and Lower Lows.
Dynamic S&R was in the Range (Flat). If the Crude oil brakes above the Last Line of Defense to reverse the trend we can go long based on the following :
1. - 4Hr TF, Daily TF and Weekly must above 20
2. should be in Flat on Higher TF
3. Last Line of Defense and Dynamic S& R
4. Monthly CPR will act as Support or Resistance. Hence, It should be consider for a factor.
5. Trend was in as 200 or 162 in Daily and Weekly TF
Based on the above factor we can go long in Crude Oil
Dynamic S&R - EMA50 and EMA79 was being respected in Daily and 4hr TF which act as Resistance
Power Move in 4HR TF which can be signal of sign.
Trend in 4hr is as per EMA200.
Crude oil was in the of CPR .
Based on the said thing we short the market if we found a reversal pattern or rejection of pattern found at the resistance.
Over All. Wait till a confirmation point arise.
Dynamic S&R and Last Line of Defense:
Trend as EMA:
CPR of 4hr TF: