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(EP #47) Kelvin Trade Ideas - USOIL Bat Pattern 2020-02-24
A bullish bat pattern is almost complete in one hour chart, it provides a potential reversal level from 50.230 to 50.140. In the larger time frames, the market is in down-trend, so this buying opportunity is a counter-trend trade. Because the potential reversal level is near the daily chart low point (~50), so I can mark a beautiful stop loss level easily. I will wait for the confirmation signals to show up near the potential reversal level, then decide should I long this market. Please be careful about risk management, especially you are doing a counter-trend trade.
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