Crude Looks GooD, Bear Trap !!
Updated
Hi friends sharing Crude 4H chart as i want to long after seeing and identical support bounce which prior resistance for it on provided chart , But for more confirmation for execution for long trade in it marked a resistance from where price taking rejection regularaly, Shared and alternative veiw also if price will break mentioned support.
Rest i will update this idea if i will find any possible trade opportunity for me in it.
Rest i will update this idea if i will find any possible trade opportunity for me in it.
Note
Gap up seen in oil prices as per the current sentiments are going on and now i assume that after a gap open above resistance i will wait for retest to resistance and and will take a trade when it will bounce from thereNote
Resistance retest complete as per taken view in today's morning which i updated above, So now i marked a resistance for long if that resistance will break and price will give s a close above i will consider this as a bounce from support and will go for long side trade in it. No trade taken so farNote
As mentioned retest in upadate above is done and now price is sustaining above mentioned resistance for support bounce can do marked targets in coming sessions, i consider this as a retest support bounce matesNote
Slight came down and tested exact resistance which acted as support for price and gives a close above on resistance for bounce trade again, A successfull retest giving more strength to breakout and for long positions too matesNote
Price slight came down near to mentioned support and got a bounce from there now reaching near to mentioned target one, alternative view not worked appropriately. Still i am having a long view on it and assuming that it will do marked targets in coming sessionsNote
Price reached 87.043 very close to target one of 87.100 and properly took resistance from a resistance based target and just missed the target, now i assume that resistance for long will act as a support now and price will take a bounce from there if reach thereNote
Resistance based target two also complted after target one, we can see can that how it take resistance from that target and now came down taking support from resistance target one which acting a good support for price now matesNote
Surpassed resistance based target 2 and sustaining very above if close above we can see final target in coming session mates, next update only after final target. Now taking 70% profit, for rest positions stop loss will trail on cost price. Cheers !!
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