zhipengcfel

Oil is in a zigzag retrace

Short
NYMEX:CL1!   Light Crude Oil Futures
Oil has finsihed five rising waves at 41.9 which is 0.618 position of last down waves.
It starts retracing back currently. From the structure of the wave A down, it will be a zigzag retrace which might retrace 50% or 61.8% of last rising wave.

Trading suggestions:
Wait the wave B up and go short when it retraces to 37.9~38.5 with SL at 39
TP1: 36.4
TP2: 34.8

Good luck for everyone! Comments and suggestions are welcome!

Comments

Good work done....... I like that
+1 Reply
zhipengcfel sanjay.prajapat.311
Thanks.
Reply
Thanks,
+1 Reply
You are welcome! Good luck!
Reply
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