plahotya
Long

New high of brent

FX:UKOIL   Crude Oil (Brent)
Targets at the bottom closed.
Possible beginning of a new trend upward in a wave 3 (or C).
We break through the line of the triangle top and the first target 56.
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Update:
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https://www.tradingview.com/x/5DDps08c/
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Update:
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Go to top, update:
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Go according to plan:
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plahotya plahotya
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plahotya,

Your wave (iv) on April 1st overlaps wave (i). I don't think that's allowed?

Al
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plahotya coolingla
This is acceptable and even necessary. Because it is divergent wedge.
And diverging wedge can only be in the first wave of impulse or wave A in A-B-C.
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Oh, glad to know that. I read Prechter's book from cover to cover and this has never being mentioned.

I always feel like there are some unanswered questions in Prechter's book. Can you recommend a good book then?

Appreciate your work so far. You pretty much nailed it.
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plahotya coolingla
Prechter's book very good.
This link Prechter meets one Russian trader about the Divergent wedge: http://theignatpost.ru/magazine/index.php?mlid=10636
http://theignatpost.ru/img/post/255/Image2013-02-1614474054.jpg
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Much thanks indeed!
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plahotya coolingla
You welcome. I hope this count will find a logical conclusion in 5-7 days at levels 62-63. If it really divergent wedge as I expect. :)
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Nice bounce and go to the new high:
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