I am looking forward to seeing how this idea/trade pans out. If today's bearish momentum continues but slows I will be looking to buy within the zone designated by the rectangle on the chart. This zone is:
Completion of Bullish AB=CD pattern
Structure to the left
If crude oil makes it to the completion point RSI will likely be oversold
On the longer time frame I am bullish and expecting another bullish impulse up
** Always remember to watch for warning signs and confirmation in the price action at the completion of these patterns!
I would love to know what you think about this idea! Please do not regard this trade as a signal -- I am still relatively new to trading and these are only my personal views and ideas!
Remember to wait for a confirmation before entering and to "trade your plan!"
Comment
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Rollover messing with my chart and all...rabble rabble.