captain_smollett

USOIL. Possible Gartley pattern

TVC:USOIL   WTI Crude Oil
This is a very audaceous setup as we still have point C to be confirmed, there may not be any harmonic pattern at all.

The eventual pattern is located at key support and resistance levels and would also confirm a deep 23.60% retracement of what is considered a bullish Wave 1.

Shorts:

Entry: 47.70
SL: 49
TP: 41.50

Longs
Entry: 41.50
SL: 39
TP1: 44
TP2: 47
TP3: 55.22 (not related to a pattern)
Comment: According to the plan.

Just wanted to strees an important point: EIA reports are not a reason for oil to move up or down. They are important to watch but they are just a trigger for the market to produce important movements. The direction of these movements can be predicted!
Trade active: Short order activated at 47.70. Moved to breakeven
Comment: Halfway done!
Comment: Almost there
Comment: We may hit the target on Monday. If everything is correct, we will start bouncing on 20th or 21st
Comment: Shorts are welcome from 45-45.50 as it hasn´t reached the original target yet. A 10% movement is not a bad movement to catch, at all!
Trade closed: stop reached: Pattern was invalidated
Good day Sir. All These days i followed your perfect charts. All your Job here is much appreciated. But now on your opinion should we keep our Shorts in oil? Thanks
Reply
Possible ABCD pattern, targeting a key level. Notice previous trendline re-test

snapshot
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YOU MEAN TO SAT THAT ITS NOW 44.XX and it will go 47.xx if its ok then when will it reach to it because i have buy the USOIL from 45.28 today
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I believe yes. We are in a sort of a "flat correction": trapped in a range between 50 and 40... Rest of the markets are in the same position: we are in a flat, expecting a trigger which will send everything up or down
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