US OIL - Upside move coming to an end !
We are in the last wave of this up move, looking for 56.3 -56.5 as a termination zone.
We should, therefore, see a correction lower for wave B. (Be aware, the correction lower might be a complex one).
If you want you can short this from the potential top from 56.5 but I would suggest waiting for wave ((i)) to end, and short once wave ((ii)) starts to lose steam at least.
Also, as you can see there should be a Head & Shoulder pattern for those of you who trade it that way.
Wave (B) usually retraces 61.8% of wave (A), so that should be your target, but, depending on how the blue wave A plays out that target might vary.
That's why I recommend trading only blue wave C if you can't afford the risk.
We should, therefore, see a correction lower for wave B. (Be aware, the correction lower might be a complex one).
If you want you can short this from the potential top from 56.5 but I would suggest waiting for wave ((i)) to end, and short once wave ((ii)) starts to lose steam at least.
Also, as you can see there should be a Head & Shoulder pattern for those of you who trade it that way.
Wave (B) usually retraces 61.8% of wave (A), so that should be your target, but, depending on how the blue wave A plays out that target might vary.
That's why I recommend trading only blue wave C if you can't afford the risk.
評論:
Look like 5 waves are in. Now we should get a correction lower towards 47-48
評論:
We should be in the last moments of this wave ((c)) of a flat B of (B).
The alternative is the larger wave (B) correction already ended and we are in wave 3 of wave (C) higher.
The alternative is the larger wave (B) correction already ended and we are in wave 3 of wave (C) higher.
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