Pips2Profit

3 DAYS OF SHORTS INTO THE LOWS REVERSAL WEST TEXAS OIL

OANDA:WTICOUSD   West Texas Oil
FRIDAY HAS SHORT BREAKOUT TRADERS TRIGGERED INTO THE MARKET ON THE PREVIOUS DAYSA LOW. MONDAY BROKE OUT OF A LARGE CONSOLIDATION FOR A MEASURED MOVE OF THE RANGE AND HAS GONE ABOUT 700 PIPS FROM THE WEEKLY CANDLE OPEN. MONDAY SETS THE INITIAL HIGH AND LOW FOR THE WEEK AND TUESDAY HAS EXPANDED THE RANGE. I WILL BE LOOKING FOR THE MARKET TO ESTABLISH A WELL DEFINED HIGH AND LOW GOING INTO THE US SESSION TOMORROW, WAITING FOR THE LOW TO BE TRADED INTO 3 TIMES, BREAK STRUCTURE AND AN ENGULFMENT AT THE LOWS AROUND 930am NYEST FOR A SHORT TERM REVERSAL 50-200PIPS.

I look for the pattern on the 15min chart and go to a 1min chart for entries.

Will not stay in the trade longer than 1-2 hours.

If the exact scenario I have presented above does not occur, the trade is void to me.

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