Very Low risk shorting opportunity in Crude Oil
Updated
I currently have 2 counts that I'm following in regards to Crude, the first one above (Red only the Red labels) is taking the current Wave iv progression as a Triangle and the other one down below is taking W.iv as a Complex Correction.
As per both of these counts the Invalidation Level is coming around 58.56, which means that a move above that level would mean the Invalidation of both of these Hypos.
Given the above count and the current price of Crude being around 58.19 we have a very low risk shorting opportunity over here which can take prices down to even the 55.25 levels.
Let's see how this market progresses.
As per both of these counts the Invalidation Level is coming around 58.56, which means that a move above that level would mean the Invalidation of both of these Hypos.
Given the above count and the current price of Crude being around 58.19 we have a very low risk shorting opportunity over here which can take prices down to even the 55.25 levels.
Let's see how this market progresses.
Note
Even if we consider Hypo 2 (Yellow Count) we still need to go down for W.E, hence considering all 3 counts discussed till now we have a very strong shorting opportunity here. Note
The Hypo 2 (Yellow Count) considers W.A as a Double Zig Zag type of correction instead of a Simple Zig Zag.Trade closed: stop reached
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Author : Think with the Markets
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