glennmercer
Long

OIL WAVE COUNT: TRIANGLE COMPLETE, Watch for Wave-((I))-of-3!

TVC:USOIL   Crude Oil (WTI)
Hey traders! Looks as though we have a completion of the symmetrical triangle here on oil             . The price action after the breakout looks as though we could see a leading diagonal and a pullback to wave 2 of the diagonal will make for a great entry (updates to come). A bearish butterfly pattern is nearing completion in the PRZ of a potential wave-((I))-of-3 as well which is nice. Keep in mind that further sideways movement is not out of the question, and to keep all options open. However, I do like a long here toward wave-3. I will be buying on a pullback if the opportunity presents itself. Happy trading
Comment: Hey traders! Price is quickly approaching potential reversal area for the butterfly. Keep an eye out for these levels:
snapshot
On a longer term chart is a nice reverse head and shoulders. Great analysis.!
+2 Reply
Thanks, and nice call on the H&S
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THANKS SIR
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glennmercer PRO waverider01
No problem, thanks for the kind remarks
Reply
thank u so much
+1 Reply
glennmercer PRO KanokpojThongjub
Happy to contribute, thanks for the support
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