Just a thought on OIl good position to long with a tight stop
Updated
I am no much of the Elliot wave man, but would that be possible that we have just started a new 5 wave cycle? in this case we are in a good position to long with a tight stop. the same is seen on Brent. lets see how would it develop
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would appreciate if someone form the wave community corrects/criticize my ideaTrade active
we have completed wave 3 and currently in a corrective wave 4, that is ABC, wave C with the target of 55-54.4below is a more detailed updated view (hope it works as I have not done it in a while)
s3.amazonaws.com/tradingview/snapshots/3/31g5HODj.png
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we had completed the 1-3-5 and ABC move in Green-Red, as per my count... it changes the idea a bit - see the link belowthis lead to one impulse move that was completed AND/OR potentially this is wave 1 and corrective 2 out of 1-3-5 potential larger impulse (in Blue)
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this allows to buy now with the stop right underneath well 2 (green), that would de-validate the blue countComment
pS - finally learnt how to place pictures into the updatesTrade active
have entered a STOP at 53.55 fro the blue countDisclaimer
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