Oil price has retreated since mid Aug. it has try to rebound back but close below the previous high, that is Low High but not yet a lower low. so let see how this 4 hour Triangle breakout structure develops. trade according to break out with a clear action candle above or below the shape.
Trading the S/R Zones for 4 Hour Chart
(4 hour chart for weekly entries of buy and sell.)
All S/R Zones has power to reverse the trade, but once broken with a closing candle will become Resist zone, and Resist zone will become .
Only trade when levels in zones are touch for the first time with a 1 hour candle to confirm the reverse.
Do Not chase price, let the price come to the S/R zones before entries.
S/R levels between zones can be use as Take Profit or stop lost location.