This is wave 1 of the impulse erupting from this bullish triangle - tradingview.com/v/mW4rECpk/.
After the wave 1 impulse, we are looking for a valid three wave correction to call wave 2. This is a flat, a 3-3-5, wave c being an ending diagonal. Ending diagonals are exciting because they reverse sharply, as do triangles. When price passes through the upper trend line, I am expecting wave iii of the larger triangle thrust to be under way. It will be a sharp move towards. $60 per barrel. I forgot to put a steep green arrow pointing upwards in this illustration, use you imagination!
After the wave 1 impulse, we are looking for a valid three wave correction to call wave 2. This is a flat, a 3-3-5, wave c being an ending diagonal. Ending diagonals are exciting because they reverse sharply, as do triangles. When price passes through the upper trend line, I am expecting wave iii of the larger triangle thrust to be under way. It will be a sharp move towards. $60 per barrel. I forgot to put a steep green arrow pointing upwards in this illustration, use you imagination!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.