I have entered a short position on XTIUSD (WTI Crude Oil) based on a multi-timeframe bearish confluence setup:
Weekly and Daily Trend: The overall structure on both the weekly and daily charts is bearish, showing a consistent downtrend and favoring sell setups.
Daily Chart Structure: Recently, price formed a lower high on the daily timeframe, indicating continued bearish pressure and a rejection from a key resistance zone.
4H Price Action: On the 4-hour chart, price has broken a major support level, confirming the bearish momentum. This breakdown increases the probability of further downside movement.
Trendline & Structure: The pair is respecting a descending trendline, further supporting the bearish scenario.
RSI Confirmation: The RSI has dropped below 40 and continues to trend downward, reflecting bearish strength without yet being oversold.
This trade aligns with the higher timeframe trend, with a clear break of support and momentum favoring sellers. The risk is managed above the broken structure, and the setup offers a favorable risk-to-reward ratio.
Weekly and Daily Trend: The overall structure on both the weekly and daily charts is bearish, showing a consistent downtrend and favoring sell setups.
Daily Chart Structure: Recently, price formed a lower high on the daily timeframe, indicating continued bearish pressure and a rejection from a key resistance zone.
4H Price Action: On the 4-hour chart, price has broken a major support level, confirming the bearish momentum. This breakdown increases the probability of further downside movement.
Trendline & Structure: The pair is respecting a descending trendline, further supporting the bearish scenario.
RSI Confirmation: The RSI has dropped below 40 and continues to trend downward, reflecting bearish strength without yet being oversold.
This trade aligns with the higher timeframe trend, with a clear break of support and momentum favoring sellers. The risk is managed above the broken structure, and the setup offers a favorable risk-to-reward ratio.
Trade active
this is short position, by mistake i marked this trade as a long trade.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.