aibek

USOIL. Ending diagonal C down still in progress. Keep patience

FX:USOIL   CFDs on Crude Oil (WTI)
I think we will have another small leg down as 5 of c of (c) then up to (d) and then last leg down to (e) which should overshoot the trendline .

Comments

UPDATE

As price broke below 48 then we are still in diagonal down.
there are 2 possible targets downside
1) the bottom of gray channel and small (c) = 1.272 of small (a) = 47.00 +/- 30 pips
2) if large green (C) = 0.618 of large green (A) = .786 fib of upward move started in March 2015 = 46.40-46.67
Keep patience!
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Hey my friend,

I also see an ending diagonal but I think that it's already done.



@Market_Masta:
I see further decline to come.
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Sokow Sokow
+1 Reply
aibek Sokow
Hey amigo!
We look different here as B reached to 65% of A
B is 5-3-5 and we are now at the end of B in (c) ending diagonal.
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Hi Sokow, wouldn't that be making an ihs? Rember about the daily bullish divergence also.
+1 Reply
Sokow ElPatron.Y
Hi LighthouseKeeper, yes IHS is possible. Very well seen ;-)
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Question. I'm now fluent in the science of waves although I should be perhaps. After C, does price continue on a further decline?
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Market_Masta Market_Masta
*I'm not fluent
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aibek Market_Masta
It's ok, I am not superman either! :-)
Usually "C" appears at the end of correction so then it is reversal not further decline as I pointed up by long white arrow.
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