Oil to the Bottom before a Big impulse UP
Welcome traders,
Here we can see Oil lies in the correction of a Long term ascending channel of more than one year duration after the break of a descending trendline since 2008
We spotted a nice SHORT opportunity :
-a good LQ zone ( Blue ) at around 70
-an ascending correction line in Blue
-the upper border of the descending correction in Red
-Golden Fibo
SL : above structure and trendline ~ 71
TP1 : 67-65 area of interest
TP2 : 62 previous low
TP3 : 59 last possible valid area at good confluence for going LONG
Trade Safe everyone
Here we can see Oil lies in the correction of a Long term ascending channel of more than one year duration after the break of a descending trendline since 2008
We spotted a nice SHORT opportunity :
-a good LQ zone ( Blue ) at around 70
-an ascending correction line in Blue
-the upper border of the descending correction in Red
-Golden Fibo
SL : above structure and trendline ~ 71
TP1 : 67-65 area of interest
TP2 : 62 previous low
TP3 : 59 last possible valid area at good confluence for going LONG
Trade Safe everyone
Trade closed: stop reached
Trade closed with losswaiting for a buy opportunity now after breakout of the correction
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.