As previously posted, we believe that Oil has to complete a z wave of a triple three to conclude cycle wave (2) below 67.
So far, we closed the last trade at our breakeven price (79.1) after observing that price action was overlapping and corrective (see the higlighted box.
We then still have 0.8% to risk and we are looking for a short setup around the 0.5 fibo retracement (yellow area in the main chart).
We will update below
So far, we closed the last trade at our breakeven price (79.1) after observing that price action was overlapping and corrective (see the higlighted box.
We will update below
Comment:
0.5% fibo is at 82.212, while the level for which a=c in B is 83.7.
Trade active:
short @81.8 stop loss 84 0.6% risk
Trade active:
0.5 fibo wicked
Trade active:
stop loss on entry
Trade active:
looking for entering another short positon
Comment:
80.32 added short
Trade active:
now our average entry is 81.1 risk 0.5% of equity at 82.4.
Trade active:
Golden Zone. Stop loss on average entry 81.1. This can still make an higher high.
Trade active:
Closed at entry.
Trade active:
Restriked 81.4 Stop loss at 82.4 is 0.4% of equity
Trade active:
stop loss on entry
