Tuesday 17th April

by Liam 08:29 0 comments

EU moved fairly well today, respecting fib areas and such but I didn't find any entries today so there's nothing much else for me to say about it. So i'm just going to post a quick follow on from that Oil set up on Monday. 

The below chart shows a high volume zone appearing on the 4hr chart at the lows, the high of this area was then respected with further high volume on the 1hr chart.

Oil 1hr and 4hr

I've been looking at PNF again over the past few days, i'm thinking about incorporating it for higher time frame analysis and entries. I took a vertical count and target from the area that corresponds to the 1hr bounce - where I have "104.60" written on the chart. We then get a triple breakout a little further up which is a lovely entry to ride up to the 104.60 target. That was the best entry in PNF terms. For the VSA entry the best place to get in and hold was probably Monday's set up.

Oil 1hr PNF