AMEX:USO   UNITED STATES OIL FUND
30 1 2
Months ago I'd posted skepticism that THE LOW could be seen on 3 waves in Feb. Since then, price has continued higher than I'd initially expected for the green wave iv. The green count is still valid - and last week I exited a swing short from near the June top. Given the time spent consolidating instead of breaking lower in a presumed green wave ( iii             ), I'm again considering the possibility of a Leading Diagonal (which assumes THE LOW was seen in Feb).

Contemplating a long trade IF price holds over 10.18 region (micro count allows for one more low below 10.51 but its note required). The next rise should be corrective as prescribed by a diagonal - something like the (a)-(b)-(c) in v of 1 (white count). Could be a difficult trade, so I'll take it one move at a time. Strong decline without breaking back above 11.12 would be an indication that the green count is continuing.

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nick.holland78
USO - 2hr
nick.holland78 PRO about USO 1 4 months ago
Wow, these charts never look as good when published as they appear on my screen. Sorry if difficult to read. Looks squished now...
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