USO - Chart Link- price got between the 61.8
and 50% Fibs. You had a nice MA ribbon pinch which Steve showed
last night
USO - Chart Link- here's where the education
comes in: you had the MA ribbon pinch on the 60 min. What I like to
do is zoom down to a smaller time frame like a 15 min chart. As you
can see the 15 min chart had a nice wedge and found support at the
200 SMA
so this is an example of seeing a potentially bullish setup on a
higher time frame i.e. a 60 min here, then zooming down to a 15 min
time frame for a pattern and trigger
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USO follow up and educational setup
Posted by matt on 8th of Apr 2020 at 03:01 pm
USO - Chart Link- price got between the 61.8 and 50% Fibs. You had a nice MA ribbon pinch which Steve showed last night
USO - Chart Link- here's where the education comes in: you had the MA ribbon pinch on the 60 min. What I like to do is zoom down to a smaller time frame like a 15 min chart. As you can see the 15 min chart had a nice wedge and found support at the 200 SMA
so this is an example of seeing a potentially bullish setup on a higher time frame i.e. a 60 min here, then zooming down to a 15 min time frame for a pattern and trigger