Monday Crude Oil Forecast
Updated
With no news injections today I would stay on the side lines.
We have Daily Wick level in conjunction with a 1hr FVG which if Crude Oil is substantially bearish should respect leading upto NY open and CME open.
The overall bias for me is still bearish with weekly ssl in the lower half of the charts marked with a magnet. This is the draw and what I will be waiting for / a setup to form.
You do have to stay dynamic however as the Daily candle on Friday took BSL inside of a Daily FVG.
This is respecting the bias.
EQH's where left in its wake so if the 1hr fvg and Daily wick is closed above on the 1hr TF we should start to consider that the market has other short term plans.
Stay Dynamic and if your bias doesn't match you can always stay out of the market!
Money preservation is very important.
GLGT- ;)
We have Daily Wick level in conjunction with a 1hr FVG which if Crude Oil is substantially bearish should respect leading upto NY open and CME open.
The overall bias for me is still bearish with weekly ssl in the lower half of the charts marked with a magnet. This is the draw and what I will be waiting for / a setup to form.
You do have to stay dynamic however as the Daily candle on Friday took BSL inside of a Daily FVG.
This is respecting the bias.
EQH's where left in its wake so if the 1hr fvg and Daily wick is closed above on the 1hr TF we should start to consider that the market has other short term plans.
Stay Dynamic and if your bias doesn't match you can always stay out of the market!
Money preservation is very important.
GLGT- ;)
Note
So the plan of action is for the daily to sweep bellow the weekly ssl that we was targeting from the begingin of the week.
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