No Entry Given on massive USOIL shorts
Good day guys and girls, as a follow up to my last post I mentioned how I have been bearish on USOIL the whole time... well... here you have it.. my personal system is quite conservative so not too many trades present themselves... but when they do we know that probability is on our side. Isn't that what we as traders aim to do? put probability on our side? Now the reason for this post is not to show that I was right about a projection but to show the power of reluctance as mentioned in my last post.. The reason why I began to look for short opportunities in the first place was because the daily timeframe printed out massive reluctance and I knew it was just a matter of time before price headed down.. remember what reluctance behavior is.. price heads into a supply or demand zone, taps it, heads very close to the target or tp (without hitting it), goes back into the demand or supply zone. This simple behavior shows reluctance to continue in a particular direction and we can immediately position ourselves in the opposite direction targeting the invalidation points of the demand or supply zone.. simple... I used this to project that Gold will get to 1677.03 and its headed there now.. (although I was stopped at B.E). My next post will be about Gold.. stay tuned
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