US Oil - Last downward leg
已更新
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.
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
tp reached at the 50% fibo-upper trendline. @77.26 close profit 1.3%!
交易進行
now we resume the downside for the next measured move and the biggest picture.
Short entry @77.26 stop loss 78 risk 0.5%
交易進行
stop loss on entry ;)
交易進行
breaking down交易進行
algo tp hit.Not closing. Holding short for our lower targets. Stop loss on entry at @77.26交易進行
retest upper wedge TL and previous TL. added at 75.6. AVG entry @76.3
取消訂單
closed on entry on ww upper trendline breakout. targets in chart. waiting for it higher
交易進行
zig zag target reached. 61.8% retracement.
short @78.18 sl 80.2 risk 0.6%
交易進行
stop loss on entry
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