How's it going? Weirdo markets right now in my opinion. But there's always a market we can play.
Let's see what we have on Crude Oil:
Isn't that price behavior wonderful?
The max. excursion line marks the upper resistance on the weekly time frame.
Go, watch crude on the weekly. There's a observation to make, right at the top of EACH of these turning points. Tell me what you find ;-)
Now, since we have identified the upper extreme (we have a high probability that it IS the upper extreme for now), we can look for a trip to the south = shorting the market.
Five signs as a filter: 1. a tiny H&S 2. break of a short term TL 3. break of the RSI 4. divergence of the AO 5. second cross of the MACD
I really don't need more to short this market ;-)
Don't forget to let me know what observation you made on the weekly.
עסקה סגורה: הגיע לסטופ
Ha!
For such unexpected situations we remember what stops are fore.
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.