Those who stayed short - well done!
The message of this chart is that for the remainder of this and early next week, the price can spend consolidating. I do not do intraday trading, hence, the strategy would be to take it easy, watch waves and add shorts if opportunity emerges. The price can continue crumbling down - I do not rule this out. At this stage of the move, it is better to stick to existing positions and watch. For that reason I do not endeavour to label wave 4 in the making. Overanalyzing hurts trading.
What do you think?
The message of this chart is that for the remainder of this and early next week, the price can spend consolidating. I do not do intraday trading, hence, the strategy would be to take it easy, watch waves and add shorts if opportunity emerges. The price can continue crumbling down - I do not rule this out. At this stage of the move, it is better to stick to existing positions and watch. For that reason I do not endeavour to label wave 4 in the making. Overanalyzing hurts trading.
What do you think?
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🌏 energeiacharta.com
⏱️ Timely updates of WTI, Gasoil, NatGas charts explaining every twist
🗃️ Extensive analysis archives
📏 Chartopedia, with examples of applying ElliottWave to real world charts