WTI-Oil 26th FEB
Updated
West Texas Oil
Lets start this Sunday analysis off with oil...
Were looking at a bullish to bearish switch in order flow from last week, so coming into this week iam looking for our current bearish flow to carry over and continue.
Price is currently sitting in a supply zone so we could see a sell off from market open, of course we confirm our moves as price delivers (not before).
The overall goal for this is to follow bearish moves down into our larger areas of demand that you can see highlighted below, as always price will show you where it wants to go as we start to move into new areas.
Now... the plan for me is to look for shorts either from the supply we sit in currently or the supply that is shown above.
If this area is not met or does not deliver as we thought then we will look for long at our demand...
*note the small area of demand we have marked at our last low, this is an area of possible reaction so be sure to watch how we behave here... we could see a pullback or even short term reversal from here*
Remember guys, if you like this idea, hit that boost button. Drop us a comment down below. Let us know what you think.
As always guys trade safe, stick to your trading plan.
I hope you all have an amazing trading week.
Lets start this Sunday analysis off with oil...
Were looking at a bullish to bearish switch in order flow from last week, so coming into this week iam looking for our current bearish flow to carry over and continue.
Price is currently sitting in a supply zone so we could see a sell off from market open, of course we confirm our moves as price delivers (not before).
The overall goal for this is to follow bearish moves down into our larger areas of demand that you can see highlighted below, as always price will show you where it wants to go as we start to move into new areas.
Now... the plan for me is to look for shorts either from the supply we sit in currently or the supply that is shown above.
If this area is not met or does not deliver as we thought then we will look for long at our demand...
*note the small area of demand we have marked at our last low, this is an area of possible reaction so be sure to watch how we behave here... we could see a pullback or even short term reversal from here*
Remember guys, if you like this idea, hit that boost button. Drop us a comment down below. Let us know what you think.
As always guys trade safe, stick to your trading plan.
I hope you all have an amazing trading week.
Note
Tapping into the lower demand and following the established current trend move, supply that sat above price did give us some good short entries but overall the bullish market continues
Related publications
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.