Hi Traders! Oil bearish opportunity update and follow up is here. In the below video you will find a detailed explanation of this sell setup:
In the previous post here I mentioned “On the H1 chart we have a critical zone that has formed which is slightly higher from the current zone. We may now expect one more push higher from the current zone towards this critical zone, we may then start looking for sells with bearish evidences. We also have a bearish hidden divergence that is forming at the moment, which we may consider as an evidence of bearish pressure”. Lets see how this setup has developed now.
Oil H1 Chart:
On the H1 chart the price moved higher and reached the critical zone exactly as we expected. Currently the price is inside the critical zone, in addition to this the price has also created bearish hidden divergence which we may consider as an evidence of bearish pressure. We may now look for more evidences of bearish pressure and then start looking for sells.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.
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