dojitrader

Aggressive Buy Support - More Eager To Sell Resistance

FX:USOIL   Crude Oil (WTI)
64 1 0
Taking a look at buying support around 93.00
(Feeling aggressive I guess, trying to catch a falling knife . . . )
where wave 5 = wave 1 ~~~
More enticed with selling the strong resistance zone
IF --- it retraces in 3 waves.
Did I wish everyone a Happy New Year ~~~~~~~ And Profits In Your Pockets !
dojitrader
3 years ago
Ouch !!! Falling knife can be painful.
The candles did not offer an entry, thankfully, so I'm looking for
a chance to sell resistance.
AND, it's obvious I made a rookie mistake in the wave count.
The 3rd wave of an impulsive wave always has an internal 5 wave count, so,
I should have been anticipating a 4th wave and not a larger degree 2nd wave.
If wave 5 (working now) extends with an internal 5 waves and equals wave 1 - a common harmonic- we could see $91.50 before a larger bounce.
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