INotFancy

Friday: Crude Oil - Week 20

Short
TVC:USOIL   CFDs on WTI Crude Oil
There's a Complex Regular Flat in play right now. The structure is in a strong monthly/weekly up-trend and we are in the middle of a bigger continuation correction right now.

Conclusion:
- Bigger trend is up
- We are making a Complex Regular Flat (continuation pattern)
- The market is trending down on 4H and 1H timeframes - we are in the last wave going down to break the low

Look for sell-setups.


I will update my idea as the trade progresses if any changes occur and my analysis is wrong, or need to be adapted to the new development of price-action.

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