#Oil_Crude Elliott wave analysis
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Price seems to have finished a 5-wave bullish impulsive move and is now getting ready for a bearish correction.
Price failing to create a new high while making a new low is our signal that the bearish move has started.
Bearish confirmations:
Bearish divergence in the 1H time frame. 4H RSX at the oversold (OS) area.
Momentum oscillator showing bearish action.
Completion of the fifth wave of the fifth, from likely wave A.
If you’ve found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Price failing to create a new high while making a new low is our signal that the bearish move has started.
Bearish confirmations:
Bearish divergence in the 1H time frame. 4H RSX at the oversold (OS) area.
Momentum oscillator showing bearish action.
Completion of the fifth wave of the fifth, from likely wave A.
If you’ve found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
註釋
our plan was to sell oil once its below our sell setup area. its still valid註釋
If price cross below sell setup line this idea and trade setup can be traded.交易進行
Price fired our sell setup area, now we could assume any bullish move could be followed by a bearish move. Stop is above recent major high around 81.900
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