On a cycle-basis most of the instruments move in big three waves. Downtrend in oil is not, I assume, going to reverse in any foreseeable time.
Basic price trajectory seems to unfold within a wave X of a larger trend down.
It will take time.
Now we are in a potential large triangle, with the trading implications to be extremely cautious, as any long position will be a bull trap on a daily and even h4 timeframes.
Good luck!
Basic price trajectory seems to unfold within a wave X of a larger trend down.
It will take time.
Now we are in a potential large triangle, with the trading implications to be extremely cautious, as any long position will be a bull trap on a daily and even h4 timeframes.
Good luck!
