- In the past few days crude oil has traded within a range delineated by the dashed lines at 102.00 and 88.23 price levels.
- When you turn to your chart on a 15min timeframe on July 5th 2022 a large price movement from 104.95 to 102.31 occured with no time for buyers to participate.
-My trade idea is that price has created a "double-top" at the 102.00 level which will be traded above to seek liquidity and fill in the imbalance within the 102.31 and 104.95 price levels. I will look for a lower time frame setup to enter.
- Price should then trade lower out of the range and below 88.23 where liquidity lies. This will be my exit point.
Not financial advice.
- When you turn to your chart on a 15min timeframe on July 5th 2022 a large price movement from 104.95 to 102.31 occured with no time for buyers to participate.
-My trade idea is that price has created a "double-top" at the 102.00 level which will be traded above to seek liquidity and fill in the imbalance within the 102.31 and 104.95 price levels. I will look for a lower time frame setup to enter.
- Price should then trade lower out of the range and below 88.23 where liquidity lies. This will be my exit point.
Not financial advice.