WTI in weekly chart
Updated
Hello
It seems that USOIL decided to make a time-consuming pattern like Triangle but you know that no one can predict internal sub-waves of a triangle so the best strategy is to wait.
There are 2 scenarios:
1. Oil is rising from here as wave 3 (Red) which does not make sense but possible.
2. Oil is making a Triangle the can be wave B of ABC of X or this triangle is our x wave (Scenario 2').
I follow scenario 2.
Time shows us.
Thanks
It seems that USOIL decided to make a time-consuming pattern like Triangle but you know that no one can predict internal sub-waves of a triangle so the best strategy is to wait.
There are 2 scenarios:
1. Oil is rising from here as wave 3 (Red) which does not make sense but possible.
2. Oil is making a Triangle the can be wave B of ABC of X or this triangle is our x wave (Scenario 2').
I follow scenario 2.
Time shows us.
Thanks
Note
as long as it is fluctuating between these 2 blue dynamic S/R lines we do not make any decision.Note
I don't think that technical and fundamental data can not support waves 1,2 primary for bullish trend.We might have more deeper corrections.
Note
when I told you not to trade WTI as long as it is struggling in this range area was because of these fluctuations.I am talking to swing traders.
Leave this chart for a while and come back to it when it reverses for bullish market which may happens in mid-term period of time.
Note
you think it would drop down when it hit the upper triangle border to make this pattern more reliable or it breaks it out strongly to make them market surprised??Note
I want to say something but please do not misunderstand. I have some really profitable offers from some websites and signal sellers and I am sure you know them if I tell their names. I am not signal seller, I even do not have time to publish my idea here and I am not sure if I can continue this page. When I publish this idea many of them criticized my that market is obviously bearish and what is that. Today I saw this triangle in their chart where you have to pay 280 USD monthly membership only for 3 charts analysis. I just want to say that, don't be one of those guys who must pay cash to find it valuable. Be safe and happy.Note
Do not forget this chart.
Every scenario can happen unless we get reliable invalidations for that.
It has an important meaning and it is, What does not happen is more crucial
than all possible scenarios and this is why I do care about invalidations more than
confirmations. Some day you will find out what I am talking about.
AMA
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