OIL corrective structure about to finish
ABCD corrective structure pulled back to 0.618 area, also a bearish harmonic pattern. Strong resistance from 50.80 to 51.20 and a good risk&reward ratio.
Note
If price pulls back to 50.45-50.50 area and a reverse candle is observed, probably could add short entryNote
Note
Some thoughts on USDCAD, Watch oil drop to 49.25-49.40 area. Based on the pattern of USDCAD, oil might pull back from that area. Don't chase the price, short the pull back!Note
Nothing has been really changed yet. Would like to see the data reaction tomorrow. Set a comfortable stop loss and that's it!Trade closed: stop reached
Still entered early, not patient. Reexamine it later.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.