Week to Week, WTI is Up
- Week to week, H4 boxes has been stacking up with a recent Bullish expansion seen.
- Current price is supported by previous H4 boxes highs and lows.
1234 Pattern seen on H4
- A 1234 pattern can also be seen on the H4 charts
- Using F6, above 10360 has R at 10430-40 (recent high) and 10560-70, 10620-30 (previous historical high) (levels by Binni)
Immediate resistance and support levels can be seen on the Daily charts with Boxes
It is always good to pre-empt possible formation. When price nears the resistance, there are 2 possibilities which could happen.
- If price expands and clears the resistance zones of previous months high, a big move criteria could be the premise of our next trade opportunity.
- If price fails to expand and stay above the resistance however, then we would be looking for a WRMB strategy to take place.
(Updated 5th June 2014)
- Price did not trigger as of last night based on the modified F6 entry.
- If price goes below 102 then there is a chance price might continue to move down. In this case we would no longer be looking at a buy for WTI.
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