WTI CRUDE OIL (USOIL) 4-HOUR TIMEFRAME SHORT
Well today i have some bad and good news. Which one would you want to hear first? I guess let's start with thee crappy news!
I somehow missed a 500+pip bearish move on oil. Like who does that? Anyway, it is not totally a bad thing. Because the good news is that it has created some nice structure in the market on which we can base future trades. My bias on oil is now bearish. Yeah i might seem late but trust me i know what i am doing (even though my profile says i don't). Plus history repeats itself. So let me share how i might possibly enter this trade. Obviously, i prefer to enter on a breakout of the corrective pattern, but it might be good on the price but bad on the timing. Perfect entries do not exist lol. You have to find what suits you. Without further ado, here are the numbers;
ENTRY: 60
STOP LOSS: 63
TAKE PROFIT :57
I somehow missed a 500+pip bearish move on oil. Like who does that? Anyway, it is not totally a bad thing. Because the good news is that it has created some nice structure in the market on which we can base future trades. My bias on oil is now bearish. Yeah i might seem late but trust me i know what i am doing (even though my profile says i don't). Plus history repeats itself. So let me share how i might possibly enter this trade. Obviously, i prefer to enter on a breakout of the corrective pattern, but it might be good on the price but bad on the timing. Perfect entries do not exist lol. You have to find what suits you. Without further ado, here are the numbers;
ENTRY: 60
STOP LOSS: 63
TAKE PROFIT :57