WTI Oil Short Opportunity
Updated
We have a sell order placed at the $78 mark with a SL at $80.50 and a TP at $65.
If we're right this could be an intermediate wave 2 retracement which would leave us heading downwards for intermediate wave 3 which will move very fast.
We anticipate the US refilling their SPR when oil gets down to this price point which should start a huge move upwards.
If we're right this could be an intermediate wave 2 retracement which would leave us heading downwards for intermediate wave 3 which will move very fast.
We anticipate the US refilling their SPR when oil gets down to this price point which should start a huge move upwards.
Trade active
Sell order triggered, now we await confirmation that we're going lower with a breach of $77 before adding to our short positions, above $80.50 we will move to our alternative wave count which looks like a more complex wave 4 that will move up to $83.50 before moving down to $65 and below.
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