Divergence extension part 1. R:R2 15% profit

Hello everyone,

In updates and comments below this chart I would like to focus on the Divergences extensions

Tip: With longer extension on divergence comes bigger and faster reversal (Work both ways)

I personally would add more on leveraged shorts during breakdown of blue line (uptrend)
as I see Oil finishing W5, filling gap, forming bearish divergence and possibly breaking the uptrend

The minimum price to correct should be the yellow line range (Where the first point of bearish divergence formed)

ChaChain

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Disclaimer:
I´m not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature, and therefore I´m unqualified to give investment recommendations. Always do your own research and consult with a licensed investment professional before investing. This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.

Comment:

Gap got filled