Hi all,
Here we have crude oil on a 4HR chart, which could be at a key point if your a technical trader with 3 options that come into play and could gain a few pips once the confirmation of a entry point,
1) we continue the upward trend, retest the dashed line and continue making higher highs, for a Conservative entry would to wait for a retest of the dashed line, an aggressive entry would be a close above the grey box
2) we close in the range and could aggressively go in for a trade or we can wait for a confirmation candle/entry with a second close of a candle and make a entry there and with our stop loss of the top line of the grey box between the trends and take profits where applicable,
3) we choose number 2, and then we ride the wave down and get a few pips on the way and to where we could EITHER continue to use "the range" to set targets or we break below the grey box, await confirmation of a retest on the grey box and ride the trend down,
*This no way trading or financial advice this is for educational purposes and my own opinions.*
Trade safe and good luck
L
Here we have crude oil on a 4HR chart, which could be at a key point if your a technical trader with 3 options that come into play and could gain a few pips once the confirmation of a entry point,
1) we continue the upward trend, retest the dashed line and continue making higher highs, for a Conservative entry would to wait for a retest of the dashed line, an aggressive entry would be a close above the grey box
2) we close in the range and could aggressively go in for a trade or we can wait for a confirmation candle/entry with a second close of a candle and make a entry there and with our stop loss of the top line of the grey box between the trends and take profits where applicable,
3) we choose number 2, and then we ride the wave down and get a few pips on the way and to where we could EITHER continue to use "the range" to set targets or we break below the grey box, await confirmation of a retest on the grey box and ride the trend down,
*This no way trading or financial advice this is for educational purposes and my own opinions.*
Trade safe and good luck
L