5th Wave 2 Way Trade On Oil (Short & Long)

FX:USOIL   CFDs on Crude Oil (WTI)
1138 2 12
Had a nice adavance on oil             up to 4th Wave in the SubWave

Just completed a textbook Expanded flat as the signature for both being in the 4th Wave and now looking for the 5 wave completion of the C wave that should be as a Min 1:1 of A or 1.618 * A for the completion of C

Lets go short from 56ish or 50% retrace of W 1 of the subwave (blue)

We need a 5 wave impulse move down to complete C . I estimate from under 55 as a target kill zone to get long for the 5th wave up (monitor the structure of the 5 wave C wave as to entry .. We may get a 1.618 of A or around 54 for our long entry)

Once long expect an explosive 5 th             wave following an expanding flat ..Dont be surprised if we get and extenstion of 5 to achieve 60+ on Oil            

After we break 57 roll your stops on each new pivot
very nice analysis
YipYip cloudichimoku
yw .. im a bit iffy on the short .. but I really like the long once it gets down to entry ;)
+1 Reply
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