Waiting for this bear flag to complete, we should not get above the flag because than the fractal might be invalid!
Could be a great RR when waiting for a good entry. I would start out small and increase on the way down after confirmation.
The fractal shows an almost identical move.
Could be a great RR when waiting for a good entry. I would start out small and increase on the way down after confirmation.
The fractal shows an almost identical move.
Comment:
Oil is moving perfectly as the fractal shown here. The target zone is the blue circle
Comment:
Target zone has been reached already, wise to take some profit already (if not already done yet). This bounce could become a reversal already. So move stops down as well to at least around 74ish to guarantee some profit.
Comment:
Oil tested the 75ish again last week and got dragged down with the whole market later on. So far it's around a important support level at 71/70. If that breaks we could go to the 65/67 range. On the left it looks like an ugly bear flag that is about to break.