Price Action – Oil Continues Higher of Pin Bar Signal | Apr. 10th

WTI Crude Oil
On Sunday in my weekly market commentary, I talked about the pin bar signal forming around the $92 level, and that a corrective pullback into the pin bar lows would offer a good setup to get long, targeting $94 and $95.  Today the pair breached $94.50, offering a minimal 3:1 R:R reward to risk play, so hopefully you profited from that as did our course members.

The commodity is approaching the key $95 figure where it certainly could encounter sellers as the intra-day price action charts are showing this bullish move is still corrective (but is building upside momentum). Clearing out $95.50 would setup a test of $96.30 and $97.50, so bears can look to sell at these levels if any price action signals manifest there. Bulls meanwhile will wait for a pullback towards $92.50 before getting back long.

Make sure to also check out our Free Forex Beginners Course here, and another article showing how a student of mine from the Price Action Course grabbing +1640 pips in the last two days!

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Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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  • Gabe

    Thanks Chris, as always, you make it look incredibly easy.

  • Dave

    Thanks Chris, Another great set up unfortunately I missed the boat

  • Nick

    Hi Chris, what risk to reward ratio are you looking at above on this chart? or what do you usually work with?

  • Mike


    how come you don’t commentary much on the ichimoku anymore. I actually use the ichimoku trading options on monthly charts. Very clear for wave variations and powerful moves as well. LG, OTTR, DUK have setup well on the monthly’s. EE looks to be forming a five wave pattern on the monthly as well!

    • Hello Mike,

      I’m working the price action book, so want to build a lot of material and ideas on it until its published. I still trade everyday, and talk Ichimoku with my course members, but have been publishing PA posts since then. Although there have been some good Ichimoku setups lately.

      Kind Regards,
      Chris Capre