The High Probability Top of USOIL
Hi friends
Been watching OIL for a while, just scanning it for fun to see where this one can go. Well, it finally reached an area where
I think... well my strategy thinks... that the path of least resistance is to the downside from this area.
I am still in CAD positioned to play the bullish oil play, however, price reached the quarterly bearish trendline, weekly
supply and the daily is truly in need of a pullback.
How can you capitalize? There is a short right now at the 4hour time-frame which looks decent, for the more conservative traders a higher probability setup can occur when UKOIL is also located at better value, the daily is slowing down and the 4hour creates a double top type of pattern with a new beautiful star formation.
Kind regards,
Max Nieveld
Been watching OIL for a while, just scanning it for fun to see where this one can go. Well, it finally reached an area where
I think... well my strategy thinks... that the path of least resistance is to the downside from this area.
I am still in CAD positioned to play the bullish oil play, however, price reached the quarterly bearish trendline, weekly
supply and the daily is truly in need of a pullback.
How can you capitalize? There is a short right now at the 4hour time-frame which looks decent, for the more conservative traders a higher probability setup can occur when UKOIL is also located at better value, the daily is slowing down and the 4hour creates a double top type of pattern with a new beautiful star formation.
Kind regards,
Max Nieveld