USDWTI D1 - Short SetupUSDWTI D1
Another bull leg seen here on WTI, pushing in excess of $81/barrel now. Things are looking very good, possible correction wave to be seen before the next push upside.
Looking for rejection and possible short positions from that $85/barrel price. From here we can squeeze a short position hopefully for as much mileage as it offers.
Westerntexas
USDWTI H4 - Short SetupUSDWTI H4
This setup is still valid, we are still within that latest lower low and lower high sequence, we just popped higher above our H4 trading zone.
Looking for a break of 71.00 and subsequent retest of 71.50 on the hourly to allow for the break and retest play on the hourly timeframe.
USDWTI H4 - Long SetupUSDWTI H4
A break short of $70/barrel would be quite significant in my eyes, threatening the break as we speak, but need to ideally see a solid H4 close below. Our H4 support region is trading marginally below that $70 whole number, but the 'zone' is still a decent support region.
Just need to wait for price exhaustion, especially with a volatile pair like WTI. Not personally something I'm looking to trade this early on in the week, but worth updating the watchlist from yesterdays webinar.
USDWTI H4 - Long Trade SetupUSDWTI H4 - Those that watched the weekly watchlist will be familiar with this setup, we mentioned we would like to see a double bottom from support. Potentially what we may be seeing here, but we haven't test the actual support zone, just shy of, where the candle bodies previously closed last week. Still 1:3, let see how this active H4 closes.