TRADE PLAN INSTRUMENT: USOil TIMEFRAME: DAILY DESCRIPTION Although fundamental drive illustrates that OPEC+ will cut oil production by 2mil barrel a day going forward, our Technical Outlook suggests that USOil Price will continue to fall untill we arrive at 70.00. The current rally appears a sentiment drive.
We will look to short the market when price visit a 55EMA with some confirmation to short for completion of Daily Bat Pattern.
Updates to follow.
Disclaimer Charts are educational not investment recommendations
@RozaniGhani-RG, thanks for sharing mate! I'm watching USOil to retest 69.685 level. If that support level is broken, Will follow it 62.303, if that support is broken, then the Crab you've presented will definitely be active. Good luck
RozaniGhani-RG
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@edgeAZFX, just be careful, long candle or gap might happen.