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
Comments
cloudichimoku
⋅
very nice analysis
YipYip
⋅
yw .. im a bit iffy on the short .. but I really like the long once it gets down to entry ;)