I believe by Monday we will finish the Wave 4 of the summer bearish run, hitting 46 ish. Then, if my Wave count is correct, we still have one more leg down, targeting 37-35 area.
After that, Oil will forward the presidential rally in the stock markets and also the DXY bearish movement as the FED probably will not touch the interest rates before the new US administration arrives.
After that, Oil will forward the presidential rally in the stock markets and also the DXY bearish movement as the FED probably will not touch the interest rates before the new US administration arrives.
Comment:
Approaching sell zone
Trade active:
Sell stop order activated at 46.18. Moved it to breakeven
Trade active:
Heading in my direction but I don´t add shorts for now
Trade closed: stop reached:
Looks like my 46.18 short may be covered soon. Therefore, switching to Plan B and looking for a new short at 46.88
Comment:
By the way, 1-2-3-4-5 setup is invalid as the hypotetical W4 overlapped W1
Please, follow your strategy! Always!
If there is no strategy that has proven itself successful, please do not trade with real money!
If there is no strategy that has proven itself successful, please do not trade with real money!