WTI│ CRUDE OIL │ 20 August 2024
Updated
- Daily timeframe [long term timeframe]
Price broke bullish structure and retraced into the demand that caused the bos.
• Bullish bias
- Four-hour timeframe [medium term timeframe]
We had a bullish i-bos as price bounced of the daily [and 4H demand zone]
• Bearish bias
- 15-minute timeframe [short term timeframe]
15-minute swing structure shifted bullish which is in line with the daily timeframe swing structure
• Bullish bias
How do I come to a bias conclusion?
I look at the swing structure; if it is bearish, I conclude a bearish bias [vice versa]
©Austin Palmer for FONOS Fx, 2024.
Trade closed: stop reached
After a nice pop, we got stopped out even with the bullish crude oil news. That's okay on to the next one.
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