The CL one hour time frame is in a short term
down trend line. The market is still making lower
lows and lower highs. It will be a good idea to wait
for the market to break and close above the short
term down trend line before looking for buying
ideas towards the monthly up Fibonacci price point
95.75 about +2,764 ticks away.
Entry: Counter trend line break bullish above
the short term down trend line.
STOP: In the sell zone
LIMIT: 95.75
Once or if the market is able to break and close
above the short term down trend line. It will
be a good idea to turn to the five minute time
frame and to look for tunnel trader long /
destination trader long opportunities towards
the monthly up Fibonacci price point 95.75
down trend line. The market is still making lower
lows and lower highs. It will be a good idea to wait
for the market to break and close above the short
term down trend line before looking for buying
ideas towards the monthly up Fibonacci price point
95.75 about +2,764 ticks away.
Entry: Counter trend line break bullish above
the short term down trend line.
STOP: In the sell zone
LIMIT: 95.75
Once or if the market is able to break and close
above the short term down trend line. It will
be a good idea to turn to the five minute time
frame and to look for tunnel trader long /
destination trader long opportunities towards
the monthly up Fibonacci price point 95.75
