emiltw

Waves structure

FX:USOIL   Crude Oil (WTI)
253 3 6
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
Trade active: Breakout confirmed, Long position activate
snapshot


Today oil reached 48.00, pullback will occur. then continue corrective wave
Reply
It seems like you are right, great analysis! Do you intend to take profit at next resistance or hold it?
Reply
emiltw leeeon
Hi, I will take profit at the end of wave 5. then wait a sell breakout to short the corrective wave
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out