Well well, H&S Short Position was there ready to be taken - but unfortunately Price Manipulators were also ready to defend..
First warning sign was wick reversal beyond 38.2% Fib.
Second warning sign was another reversal just underneath previous wick for the Stop Hunt.
Price action has since rallied above neckline, consolidating just under 23.6% Fib.
In hindsight, makes sense why Market Makers would intervene an imminent sell-off when globally significant news haven't hit wires yet (Powell/Jackson Hole).
All you can do is highlight key levels, set alerts & wait for Trade Setup to come to you..
Ps, retained H&S Short Idea on chart as reminder & part hopefulness of potentially playing out lol...we'll find out soon.
Boost/Follow appreciated, cheers :)
OIL_CRUDE
USOIL
UKOIL
CL1!
CL2!
First warning sign was wick reversal beyond 38.2% Fib.
Second warning sign was another reversal just underneath previous wick for the Stop Hunt.
Price action has since rallied above neckline, consolidating just under 23.6% Fib.
In hindsight, makes sense why Market Makers would intervene an imminent sell-off when globally significant news haven't hit wires yet (Powell/Jackson Hole).
All you can do is highlight key levels, set alerts & wait for Trade Setup to come to you..
Ps, retained H&S Short Idea on chart as reminder & part hopefulness of potentially playing out lol...we'll find out soon.
Boost/Follow appreciated, cheers :)
OIL_CRUDE
USOIL
UKOIL
CL1!
CL2!
Consolidating above 23.6% Fib. Smaller TF will indicate whether price action wants to push towards ~81.69 resistance level, or continue chopping/retreat back into Demand Zone to digest upcoming global economic news..