CL1 Triangles, End of corection, on not?

FX:USOIL   Crude Oil (WTI)
127 4 2
6 months ago

On 4 hour chart i beleive this are triangles,
they are usualy found on end of correction or part of correction,
in theory (i am beginner and learning)

Other than that I beleive that short term chanel is pierced and it will go up...

Please comment
6 months ago
Comment: I forgot to mention,
I believe, and hope that Oil will go lower (long term)
but at this moment I will be going Long for Monday if there is no big weekend gap...

Expecting rise Monday and Tuesday
6 months ago
Comment: Figured out that i am an idiot...

Analyzed wrong symbol this is WTI not CL1! :(
Fortunately all is the same with CL1! (more or less...)
Fortunately they will go together so there is no real problem...
Fabby PRO
6 months ago
volumes on the last few bars are too low,
likely a knee jerk reaction to turkey breaking out at the same time.
6 months ago
i suggest that you draw an extension of the resistance of the correction, wait for consolidation since the break out is fresh + you could take a scoop from lower (around 45.9)

Notice that volume is low on break-out.
+1 Reply
6 months ago
Hi. I like your idea I think you're correct on that diagonal. So what happens now?


I think that diagonal could have been the Y wave. And we're possibly seeing a triangle form right now for Z. W was a running flat.

Let me know what you think
alfitec benchch
6 months ago
Looks like we are waiting wave 5

On the other hand i have all 5 waves already counted... but then wave 1 should kick in...
I see that lot of you have counted to 3 so i beleive that i am wrong... but anyway

If wave 5 kicks in and its a failed vawe we can have sesonality fulfiled (drop of price towards february)

So it raely can be interesting soon :)
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