WTI: Bullish counter trend trade
WTI might have hit a bottom for the time being.
Candle A exhibit sign of strength(SOS). It registered the highest volume for the day but yet closed in the middle of the range. Candle B confirmed that Bulls are stepping in. The lower low tells me that price attempt to go lower. But the candle actually closed at the high of the bar range and near the high of candle A with low volume. This to me tells me that the high volume seen in candle A is actually Bullish volume. If it's Bearish volume, why didn't candle B close lower? Moreover, all this price action happens at a structure low. Thus, I believe that we might be seeing price going higher in the coming session. But do note that this is a counter trend trade. A high volume close below candle B will negate the short term Bullish bias.
DISCLAIMER:
Any opinions, analyses discussed in this presentation are just my personal opinion and do not constitute investment advice.
I do not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
PRICE ACTION only tell half the story. The other key half is VOLUME. For VOLUME drive price.
Candle A exhibit sign of strength(SOS). It registered the highest volume for the day but yet closed in the middle of the range. Candle B confirmed that Bulls are stepping in. The lower low tells me that price attempt to go lower. But the candle actually closed at the high of the bar range and near the high of candle A with low volume. This to me tells me that the high volume seen in candle A is actually Bullish volume. If it's Bearish volume, why didn't candle B close lower? Moreover, all this price action happens at a structure low. Thus, I believe that we might be seeing price going higher in the coming session. But do note that this is a counter trend trade. A high volume close below candle B will negate the short term Bullish bias.
DISCLAIMER:
Any opinions, analyses discussed in this presentation are just my personal opinion and do not constitute investment advice.
I do not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
PRICE ACTION only tell half the story. The other key half is VOLUME. For VOLUME drive price.
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Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.