US Oil Short Trade Set Up *INTRADAY TREND REVERSAL*
After buying US Crude for many weeks, we have seen one final push up to highs of over $65 per barrel this week before the news died down and it appears we have avoided WW3.
Price has now broken the intraday bullish trendline and made a nice lower low on the 4hr timeframe.
Option 1 = Pullback in to broken TL, lower high to form, reject the 0.618 fib and $63 price level. Enter short in the hopes of new lower lows to be made.
Option 2 = Price consolidates here for a few days before continuing lower. (flag pattern set up)
Prediction, new lower lows to be made at some point. Price to tech $55 support zone as a final TP.
Price has now broken the intraday bullish trendline and made a nice lower low on the 4hr timeframe.
Option 1 = Pullback in to broken TL, lower high to form, reject the 0.618 fib and $63 price level. Enter short in the hopes of new lower lows to be made.
Option 2 = Price consolidates here for a few days before continuing lower. (flag pattern set up)
Prediction, new lower lows to be made at some point. Price to tech $55 support zone as a final TP.
Trade closed: target reached
