Price had completed 3rd and 4th waves (blue). And the last 5th wave (blue) has been strated by 1st wave (red). Moreover, price seems to be in significant fibo levels (0.5-0.618), which are confluencing which support area (purple lines). Therefore i will take long trade on USOIL.
Previous week price showed us completed 3rd and 4th wave (blue). Moreover, fibo levels confluence with support zones (purple), which are demonstrated on chart as purple lines. I am expecting oil price to go up. After which i will share further wave countings.
Price had completed the 2nd wave (green) after we see that 3rd wave (green) has been started in which we see the 1st wave (blue). I think, it is better to for the price retracement, so we will be able to enter long from better price and catch the 3rd wave (blue) of 3rd bigger wave (green). And price seem to be in channel.
Price rejected, before market close, from significant fibo levels (0.5-0.618). Moreover seems that 2nd wave (blue of 3rd bigger wave (green) has been ended. I think, we may see this pair going down during upcoming week.
2nd wave (blue) is more likely to be completed, in which we had WXY waves (red). Moreover price rejected, before market close, from significant fibo levels (0.5-0.618), therefore i decide to short this pair when markets will open.
I recounted the wave. Not clear, but seems that price is currently in 3rd wave (red). However, i will short USOIL because we have price channel, which is 2-3 months long. So, market gives nice opportunity to short, with good risk reward ratio.
Expecting this pair to continue further decline. Price is in 3rd wave (blue), what means we may see strong bearish movements on this pair. Entry was made after retest of broken trendline. Red and green lines are stop loss and take profit accordingly.
Stop losses are on breakeven, and 3rd wave (green) has started its movement. Next week expecting this pair to go deeper. I made first entry visible, i opened first trade (1.32888) approximately a month ago. Still keeping :D
NFP has passed, price behave itself as was planned. Next week expecting the price to finish 5th wave (red) which is ending wave of 1st wave (blue). After price may go up to complete 2nd wave (blue). And after that price may continue to go down for 3rd wave (blue).