sajack

sajack Updated 

The arrows indicate drives 1 & 2, both about 90 pips. The highlighted section shows market consolidation for about 12 hours, ranging about 30 pips. Being that the drives and structure are almost identical, I'm looking for the market to continue consolidating up to about 12 hours then go bullish for the 3rd time for about 90 pips. Thus, completing the 3rd...

sajack

The overall current trend for US Oil is bullish, so I rarely look for the sell. In this case, I used the Fib on the largest wave in the uptrend and saw that the first retraced just a few pips below the 61.8 level.The second wave had made it highest high and was retracing between the 50 and 61.8 levels when I was looking for the buy setup. At this point, I knew the...