In our first post on Oil we stated that we are looking for a final wave C of (Z) of to conclude cycle wave 2 in the 57-63 area.
We were kicked out at entry on the last trade, and we are now looking to reopen another short position at 83.7. However, bearish divergence and our view on indexes signals that the top could still be in.
83.7 is a confluence level in which there are the 0.54 fibo retracement of wave A and the level for which a=c in wave B.
We will update below. Happy trading!
We were kicked out at entry on the last trade, and we are now looking to reopen another short position at 83.7. However, bearish divergence and our view on indexes signals that the top could still be in.
83.7 is a confluence level in which there are the 0.54 fibo retracement of wave A and the level for which a=c in wave B.
We will update below. Happy trading!
Trade active:
the market seems have opened bearish. Short position from @81.55 sl 82.36 risk 0.3%
Trade active:
Trade active:
still holding
Trade closed manually:
closed breakeven. waiting 83.7
Trade active:
sl breakeven allows us to restrike higher. Entry price is now 81.95 sl 82.6 (previous high) risk 0.3%
Trade active:
stop loss on entry
