Trading_Jazz
Long

Double Bottom Oversold with Bullish Div // Harmonic // IF=THEN ®

FX:USOIL   Crude Oil (WTI)
FX:USOIL            

Oversold with bullish RSI divergence on 1h, 2h and 4h charts, i can expect a retracement to previous structure support now resistance @36.61;

But there's a double bottom @34.61, this last bottom must close above this price to validate.

Where's a double top/bottom, there's a neck, there's a "V" shape also, and so, IF the price breaks the Neck and find resistance synced with previous structure @39.86 it will, eventually, forge a 2618 trade setup:

double bottom followed by a 61.8% retracement, target an AB=CD basic pattern... eventual a 261% extension from bottom to neck movement ;) - Buy the 61.8% retracement...

Major Bearish Gartley Pattern at the end of all this eventual process..., Short it when completed:

GARTLEY
Point B:
61.8% can not touch 78.6% XA
Point C:
38.2% to 88.6% AB
Point D:
78.6% XA
127% ext AB
Target:
TP1 38.2% AD
TP2 61.8% AD

snapshot

snapshot

Safe trades;




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