It has been quite a slow moving as we just had extended weekend with USD holiday on Monday. Things will turn quite soon as we are approaching for FMOC meet late Wednesday night. No matter what the outlook would be, I would be doing what I've been doing since years & trade Charts only rather than looking for things I can't control.
I have spotted few opportunities past week but here I'm posting you the best of the setups. Things you need to look in the chart is that price tried to protect an area for few sessions and try to rally which is market as support market with blue rectangle. When price rally to supply (which will hold the price downwards), and next blue Rectangle in between has act as resistance, where first attempt ( mark as middle blue rectangle), was failed. Now I expect price to move downward towards the next support which is 139.80. So, Trade setup with stops and target is mentioned below
You all very well aware why this blog was setup i.e to help you understand the market structure and who is dominating the market. Sellers & buyers activity can be tracked on chart and that is without Indicators, Trendlines, Fibonacci or any other mechanical System. I've post couple of crude oil future chart & will soon make a video & post it below description & will guide you how you can trade like pros without putting heavy stops and incurring heavy losses if trade goes wrong.
To help you understand better, hereby I'm uploading a crude oil chart & example of the trade I took yesterday & it fetch me nice 10 time rewards with only 20 pips stops.
