Crude OIL: Bearish butterfly at trendline? Combined gameplan!
Currently looking for a breakout trade to get long to possibly fill this butterfly.
The possible butterfly in confluence with a bounce off the trendline good be a good short opportunity to re-test former lows.
If we ever get back to those lower regions I will look for a possible reversal at possible support of a Quasimodo pattern which might be a good opportunity to get long for the long run (first target in the 50 region)!
Possible combined game-plan for the coming period: short-term long (days) into midterm short (weeks) into longterm long (months)...
The possible butterfly in confluence with a bounce off the trendline good be a good short opportunity to re-test former lows.
If we ever get back to those lower regions I will look for a possible reversal at possible support of a Quasimodo pattern which might be a good opportunity to get long for the long run (first target in the 50 region)!
Possible combined game-plan for the coming period: short-term long (days) into midterm short (weeks) into longterm long (months)...
Comment:
Long breakout, was a success, getting close to the butterfly now... Possible wedge forming... Getting ready for the short...
Comment:
Wedge / leading diagonal to end wave 1? Close to the butterfly and trendline though, so maybe one more push up...?
