Trade example of the day

Published on 4 January 2021 at 16:59

From support to resistance and back

Today’s example is the oil trade. After a bigger selloff, you can expect a reaction back. Orderflow tells you when the buyers are backstepping in. After the reaction back, it goes usually to a level to kiss it goodbye for the moment. So that are two moments to watch order flow. One after the selloff and one time when you hit the level of the goodbye kiss. Both are pretty good tradable as you can see on the chart.

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