Long USOIL: Wolfe + Shark + December Pivot
Updated
USOIL could potentially complete a bullish Shark in the PRZ of a bullish Wolfe wave setup. The targets for both patterns align precisely with the unhit pivot for December, 2015. SL is placed at 113% retracement of the shark CD leg.Confluence in the PRZ:
- Bullish shark pattern completion
- 2BC projection
- 1.5AB=CD completion
- Bullish Wolfe wave setup
- Unhit monthly pivot for December, 2015 above price
- Bearish USDCAD patterns setting up on same TF (see related ideas)
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Rebounding nicely!
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