Crude Oil: Potential Trade Set UpOn 4 hours chart the structure looks bearish. We have moved down in 5 Waves which could be Wave 1 or A and now it is trading sideways and forming a potential Triangle pattern which could be Wave 2 or B. So the next impulse on the downside can offer a trading opportunity which could be either Wave 3 or C.
USCRUDEOILCFD trade ideas
Crude oil hourly forming symmetric triangle patternAfter forming New high & new lows consecutively in hourly time frame for straight one week, currently market forming triangle pattern.
Trade in the direction of breakout, conservatively. Always have a look at higher & lower time frames for more confirmation of the trend.
Think & Trade in Probability.