Oil / Reaching Weekly Resistance Zone / Cypher on 4H
Updated
2018-5-21
1. Oil Price has been trending up strong with a series of HHs & HLs
2. Price is now sitting inside the Weekly Structure Resistance Area
3. A Cypher pattern is formed in this area and we look to Long near the support zone (Green)
Short term target at Fib 382
Stop loss below bottom of the support
1. Oil Price has been trending up strong with a series of HHs & HLs
2. Price is now sitting inside the Weekly Structure Resistance Area
3. A Cypher pattern is formed in this area and we look to Long near the support zone (Green)
Short term target at Fib 382
Stop loss below bottom of the support
Order cancelled
The Cypher pattern become invalidate when price put in a Double-top.In addition, we did not see a reversal near the support zone (Green).
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