It appears as tho we're about to retest the bearish wedge we broke out of during the first part of August. We have a shit ton of resistance in this area and appear to be forming a H&S formation as well.
Look for deceleration and a rejection of this resistance on the daily and intra-day for confirmation to get short. Ideally this pair tops out at resistance the same time USOIL bottoms at support.
I plan on holding this short for quite awhile and will gladly add to the position with pullbacks during the run down.
Look for deceleration and a rejection of this resistance on the daily and intra-day for confirmation to get short. Ideally this pair tops out at resistance the same time USOIL bottoms at support.
I plan on holding this short for quite awhile and will gladly add to the position with pullbacks during the run down.
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Ideal entry didn't present itself...
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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.