tst

Expanded flat 3-3-5 ?

FX:USOIL   CFDs on Crude Oil (WTI)
171 9 14
Watching this price action and it could play out as an corrective structure as per an elliot wave 3-3-5 expanded flat.
Comment:
Comment: The reversal at 46.75 WOW...
Comment: This could be it the last (long entry) 3rd wave up before a larger short
ManojJain maybe something like this .....
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Looks possible. Thanks for the response. Could be a slight down early next week.
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tst JMNIK
Yeah correction has started. could be any of the 3 types of corrections shown or something completely different. But if were looking to trade then as a guide we will watch for one of them and buy the break out
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looks like zig zag Long entry ?
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seems like exhaustion? Major squeeze as the procrastinators (likely retailer investors) rollover their futures contracts.
+1 Reply
tst JMNIK
I think theres room to go higher. One more pull back then a top out at 51.30 area ill look for short setup.
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txt, pullback from sub-50 price to what level? thanks.
+1 Reply
JMNIK JMNIK
tst... not txt. it auto-corrected.
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tst JMNIK
We will wait and see. once or if price starts to correct then it should come down in 3 waves ABC... when we see this happen we can start to look for a level :)
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