US Oil - Last downward leg

Hello traders,
as you can see from the chart above, we believe that oil is about to finish cycle ((2)) correction with the last C wave of a triple three (labeled in the chart).
After a 5-leg to the downside (wave A of (Z)), price corrected with a three wave abc into previous structure, that acted as resistance.
Price created a triple top at 82.61, and as per previous post we entered short @81.95. Our stop loss is now on entry and we target the area showed below (57-63) for the end of this 535 in wave (Z) at the golden fibo zone+weekly bearish wolfe wave target.

Will update below.

交易進行

retest of structure. added short. stop loss on average entry @80.75

交易進行

First target 74.5. Then will revaluate the price action for other setups keeping half of the position. Final target for this downward move is 63-57 area

交易進行

planning first tp (half of position) at the trendline

交易結束：目標達成

Closed half at trendline @75.68. Profit= 2.6% of Equity.
Leavingthe other half roll with stop loss on entry at @80.75

手動結束交易

Nice reaction at the trendline. Five wave structure completed, but not impulsive: hence we took full profit closing the other half.
Total Profit: 5% of Equity!
Will update for new setups

註釋

Breaking down.. we just took profit but.. it happens ;)
Good confirmation for our short scenario, planning to re enter short at the next setup!

交易進行

trendline held well indeed .. double bottom on it and descending wedge. Scalping long up to the wedge trendline, insurance in case of breakout.
Entry @75.6 sl 75.1 risk 0.5%

交易結束：目標達成