Hi Friends,
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. Stochastic RSI - 4Hr TF, Daily TF and Weekly must above 20
2. MACD 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 Bullish as EMA 200 or EMA 162 in Daily and Weekly TF
Based on the above factor we can go long in Crude Oil
Shorting:
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 bearish sign.
Trend in 4hr is Bearish as per EMA200.
Crude oil was in the resistance zone of CPR.
Based on the said thing we short the market if we found a reversal pattern or rejection of Candlestick pattern found at the resistance.
Over All. Wait till a confirmation point arise.
Images:
Stochastic RSI:
MACD:
Dynamic S&R and Last Line of Defense:
Daily TF:
4hr TF:
CPR:
Trend as EMA:
Power Move:
CPR of 4hr TF:
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. Stochastic RSI - 4Hr TF, Daily TF and Weekly must above 20
2. MACD 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 Bullish as EMA 200 or EMA 162 in Daily and Weekly TF
Based on the above factor we can go long in Crude Oil
Shorting:
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 bearish sign.
Trend in 4hr is Bearish as per EMA200.
Crude oil was in the resistance zone of CPR.
Based on the said thing we short the market if we found a reversal pattern or rejection of Candlestick pattern found at the resistance.
Over All. Wait till a confirmation point arise.
Images:
Stochastic RSI:
MACD:
Dynamic S&R and Last Line of Defense:
Daily TF:
4hr TF:
CPR:
Trend as EMA:
Power Move:
CPR of 4hr TF: