emiltw

Waves structure

FX:USOIL   Crude Oil (WTI)
252 3 6
7 months ago
Price is clearly finishing the 4th waves and going for the 5th wave.
after completing the 5th wave, in Daily timeframe the price will formed 3rd impulse wave, around level $50.00
we can clearly see there is an AB=CD pattern inside the 4 hour chart time frame.

snapshot

So once H4 Chart AB=CD pattern formed, we will start looking for short position to $44.00 - $42.00 range to complete the 4th corrective wave structure.
Once the 4th wave finished at $44.00 - $42.00, we will start taking long position to complete the 5th impulse wave, upside target $60.00
7 months ago
Trade active: Breakout confirmed, Long position activate
leeeon
7 months ago
It seems like you are right, great analysis! Do you intend to take profit at next resistance or hold it?
Reply
emiltw leeeon
7 months ago
Hi, I will take profit at the end of wave 5. then wait a sell breakout to short the corrective wave
Reply
emiltw
6 months ago
snapshot


Today oil reached 48.00, pullback will occur. then continue corrective wave
Reply
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