USOIL SELL TRADE IDEAHello everyone, if you like the idea, do not forget to support with a like and follow.
We do have a W pattern formation on the Weekly. We can expect a rejection to the downside, and we still didnt see the retracement to the 0.382 so a deeper correction does seem possible
On the daily, we can see an ICI strategy and is currently testing previous daily support which it has tested 2 times and now currently testing as resistance which if we see a candle closure below this support. Taking the fibonacci on this daily impulse we can see that the market has retraced back to the 0.618 golden ration taken on this daily impulse.
On the 4H time frame, we can see the area is acting as support, while MACD is below 0 but EMA's have just slightly cut for long, so if the market manages to cut below this support, EMA's will cut for short, so the break and shift of the environment, on the retest and when EMA's line up with structure. Stop loss is above the high or above the 0.786 of the fibo on the impulse and take profit on the fibo on the daily retracement.
Trade Signals
SELL
Entry: 81.04
Take Profit: 77.11
Stop Loss: 82.33
Good luck!
All Strategies Are Good; If Managed Properly!
~FX_SHIFTER
