If you've been in on this move to the $48 level (green pitchfork, dashed gree line), don't be afraid to take some profits and wait for the next move to $50+. As long as the price holds (we don't pierce the Dragons head (yellow dotted Moving line)), the bulls are in control. Good trading
Hello fellow traders;
DAILY: The price is in the daily demand zone and reacting from it
H4: We are way below from H4 supply zone
H1: New original demand zone has just been created
TP1: 1:1 R/R
TP2: Trail the stop till we reach H4 supply
US Oil underwent a complex correction. The correction wave is quite clear now. We can now see the beauty of elliott wave analysis. The first correction is a regular flat for CLM2016 (Oil contract at May). It is an expanded correction for oil continuous contract see below (usoil or CL1!). ...