H4 We have no bearish divergence and I'm expecting the Z down to finish off the downside.
H1 We have 3 up with bearish divergence and my TP hit in the wave C up idea (link in related links). Wait for a bear flag to form before jumping into a sell against the invalidation point. 1st and 2nd TP on the chart.
W1 Wave C Up. (D1 Chart) Idea. Once We get the H4 Z down this is the larger structure I'm looking at, checkout the idea for the complete picture thanks.
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Comment
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I was stopped out at BE and now the top has been broken everyone should be out of the trade. look for buys for the D1 structure.
I have the same exact chart figured out for WTI, however could this downturn right now be forming a running flat for continuation upside? This idea is mostly coming from the more bullish chart of Brent Oil. Lets see
Boon2
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@Orient92, The X2 is a little larger that X1 so it is possible were in a internal D1 B wave and we get a larger correction before we break the low (see pic) but I'll be very surprised if we dont break the low with the bear hidden divergence in play on the H4.
Orient92
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@Boon2, Trade carefully now, its really starting to look like a running flat for upside
Boon2
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