Hello traders, in our previous posts about oil we highlighted how we expect cycle wave 2 to complete around the 57-63 area with the final C wave of the corrective structure. We then showed how we applied . We entered at the golden zone (61.8%fibo) strong volume rejection. We are short from @78.18 aiming to ride the microcount outlined in the chart. Stop loss on entry as per the update in previous post. Cheers GMR
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kiicked out on entry.. wolfe wave went for the full target. Restriking @79.8 sl 80.5 risk 0.5%
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stop loss extended 81.2 risk 1%
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stop loss on entry
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still holding our short position. IMonitoring this structure, a break may accelerate the downside
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Trade closed manually
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closed on entry.. possibility of a triangle will be discussed in next post