USOIL
As can be seen above, USOIL had broken it bearish price structure on the 4 hour timeframe, and now the trend on its weekly Stochastic RSI has turned upwards.
As a result, I decided to go short JETS, as it is known to have a negative correlation (inverse inter-market relationship) with USOIL:
JETS
I decided to scale in (submit my entry) using JETS hourly timeframe, as its price action has now closed below the Kumo Cloud.
Let’s see how this plays out!
Next Action
- Continue to monitor the price action of USOIL and JETS everyday.
