nicole0804
Short

WTI Crude Oil - Potential Butterfly Pattern

NYMEX:CL1!   Light Crude Oil Futures
190 2 4
snapshot
Potential Butterfly pattern detected.
If this is correct, then oil             might forming second leg from the high of 49.08, possible retracement fibo levels will be 38.2% or 88.6% of AB. In this case, it seems like oil             will retrace to level 88.6% which might bring oil             to $40.30++

A B = 78.6% retracement of XA
B C might be formed if price is heading to 88.6% of AB, which is around $40.30++

Can try to enter SHORT near the black color downtrend line, and target profit level around $40.50++ - $40.30++
walau
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nicole0804 Johnkiew
this is sibeh niceee~ see the pattern
http://www.babypips.com/school/summer-school/harmonic-price-patterns/the-gartley-and-the-animals.html
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