FX.co ★ CL/Crude Oil

Hello everyone! Let's start with #CL on the H1 timeframe. To determine the likely direction of the chart, Parabolic with a price of 65.63 will help me. However, the previous candle closed at 65.45. Since the Parabolic is above the closing price, selling pressure currently prevails. I also look at the Moving Average, and when its signal aligns with the Parabolic indicator, I enter a trade. The price of the Moving Average is 65.46. As the moving average price is above the closing price, I can consider entering short positions at the moment. I adjust the stop loss only in the direction of the open trade, with the help of the Parabolic once again.

As for the daily timeframe, it is not as interesting for me. I prefer intraday trading. Analyzing the prices on the daily timeframe: the candle closed at 65.53, Parabolic indicator at 72.61, MA indicator at 65.78. The daily timeframe shows a bearish sentiment. I suggest prioritizing selling within the day, and only considering buys as corrections.