> - I appreciate at first this looks overly colourful and somewhat convoluted, but look twice, its completely unproblematic. There's literally 3 or 4 things I've added to this chart.
> - Simplicity is key:
5 Touches on the bearish Trend line
Daily Support Zone plotted
4Hr Support Line plotted (incase of consolidation towards trend line)
Evidence of a gradual...
We can execute a "Sell/PUT" trade right after price respects the Trend line. we can take 45 minute trade if we be aggressive. If we're non aggressive, then we can wait until any pinbar, engulfing or doji confirmation then go for a 1 our or 1 our and 15 min "SELL/PUT" trade.
Brent Crude performed a massive increase in the past couple of days. The previous analysis is still valid, long positions are favorable as long as the price does not break the upward trend. The chart was updated with the different Murray Math price levels, which fits very well the price movements. I think that Brent Crude will rise further since the refineries...
Sitting beneath a strong resistance line, going to wait for a confirmation of a reversal then enter a short to just above the 0.5 level at 1.32838, it may continue past that but will lock profit at that level and ride it further down.
Potential short setup on the 1H time frame, we have had a 61.8 fibonacci retracement and are now set for a counter trend line break, if we see a break below this trend line i will be looking to go short.
Im quite bearish on this , as there is heavy momentum coming into the dowside , this is a live trade I will taking myself , currently waiting for the 2hr candle close in the Asia session , Looking for a target of around the 0.74400