dojitrader
Short

Double Top or Double Zig Zag ???

FX:USOIL   CFDs on Crude Oil (WTI)
67 2 1
What's Oil             up too ?
If it doesn't double top with divergence
perhaps, it's headed for a Bat completion
that fits rather well with a double zig zag type
wave count. Peculiar, in it seems to be an expanded
flat for wave X and some sort of expanded/irregular/rare ?
flat for wave ii of C.
Enticing harmonics have A=C of Y only 7 pips higher than the Bat.

Might have to take both trades to be in on a short
that has a potential final target of $95.40
Candlesticks light the way !!!!!
I really want to be short oil also, but the bigger pic is too confusing.

Is it a triangle?
snapshot


A completed flat
snapshot


A complex correction
snapshot


Only time will tell. Good luck!
Reply
dojitrader traderWgun
Thanks for the charts and thoughts !
It just occurred to me ---
As I'm envious of your greater ability to clearly label
complex corrections ---
If YOU find it confusing, then perhaps, I should just stand aside.
Or maybe just go with the time tested sell resistance if the opportunity
arises around 103.00 or the Bat closer to 105.00.
Looks like the market is offering little help today other than
putting an end to my zig zag idea.
If this is a double top the candlesticks did not offer the triggers
I'm interesting in trading.
(maybe one when I was sleeping)
Best of luck to us both !!!!!!!
Reply
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