FX.co ★ bradtke.owen | CL/Crude Oil

#CL Hello traders! The strength of the buyer is expressed in the linear regression channel on the M15 chart, which is rising. The steeper the channel's angle, the more pronounced the buyer's activity. Bulls are doing everything possible to reach their target of 68.22. To enter the market on a pullback, you need to catch the moment when the market is near or at 66.76 and then buy. Trading within the channel is simple: buy from the lower edge and sell from the upper edge, but going against the trend is not advisable. Therefore, after reaching the target, I try to wait for a pullback to enter again along the rising channel. Continuous movements without stops at 66.76 indicate the seller's determination to push downwards; in this moment, it is necessary to wait with purchases and reassess the situation.

On the main H1 chart, which is the main trend indicator for me, I observe an ascending linear regression channel. Combining the readings with the M15 chart indicates the priority of buyers. Therefore, as mentioned earlier, I will consider buying. Based on the H1 timeframe, it is better to enter from the lows at 65.14. I plan the rise towards the upper channel boundary at 67.36. The target for growth towards the upper boundary of the H1 channel will be the breakout of the level 68.22, which in the presence of strong buyers should not hold the market back but rather bounce it downwards. A close above it will indicate bullish activity. The rise will start to fade at the level of 67.36 with a subsequent downward corrective movement, indicating the presence of sellers. If desired, one can try to sell, but this goes against the trend and all consequences should be taken into account.