Oil Trading Price Action Strategy with Support & Resistance Oil Trading Price Action Indicator
One of the strategies for crude crude oil price action is use of PinBar. A pinbar is a reversal crude crude oil price action signal on a oil chart which shows an obvious change in market sentiment during that period.
This pin-bar candlestick has a long tail with the closing crude crude oil price near the open.
The pin-bar candle looks like a pin thus the name Pin Bar - occurs after an extended trend move up or downward.
How to Trade Oil Trading Price Action Pattern with Support & Resistance Oil Trading Price Action Indicator
This crude crude oil price action reversal oil signal is completed after market closes below candle that precedes this crude crude oil price action pattern. Below the oil pin bar crude crude oil price action reversal oil pattern is confirmed after the oil market closes below the blue candle that preceded this crude oil price action pinbar candle.
How to Trade Oil Trading Price Action Pattern with Support & Resistance Oil Trading Price Action Indicator
Combining Pin Bar Crude Oil Price Action Pattern with Support and Resistance Lines:
This pin bar crude crude oil price action reversal oil signal can be combined with other oil line studies such as Support and Resistance levels which can be used together with this crude crude oil price action trading signal to generate buy or sell oil trade signals.
Support & Resistance Levels
A pin bar crude crude oil price action candlestick that forms after crude crude oil trade price hits an important support or resistance level can be used as a oil signal to enter the crude oil trading market. When a this crude crude oil price action reversal oil pattern forms the trades taken should be in the opposite direction of the tail of this crude crude oil price action candle.
If the oil market moves up this forms a pin bar candlestick with tall upper tail, then the oil signal is to open a sell crude oil trade transaction.
If the oil market moves down the forms a pin bar candlestick with tall lower tail, then the oil signal is to open a buy crude oil trade transaction.
Oil Trading Price Action Strategy with Support & Resistance Oil Trading Price Action Indicator
