Patterns repeat
Updated
US OIL idea
SHORT @ $50.40
Stop loss at $51.64(red X)
Target one green flag at circa $45.5-$46.00
Target two at $39.23.
If target one is successfully hit I will exit full position and re-short on a 50% pullback towards the highs place my stop at the red X again and target, target two @ $39.23
But lets see whether target one is hit.
Its a good risk reward trade as stop is close so if I am wrong my losses are small.
SHORT @ $50.40
Stop loss at $51.64(red X)
Target one green flag at circa $45.5-$46.00
Target two at $39.23.
If target one is successfully hit I will exit full position and re-short on a 50% pullback towards the highs place my stop at the red X again and target, target two @ $39.23
But lets see whether target one is hit.
Its a good risk reward trade as stop is close so if I am wrong my losses are small.
Note
Apologies, I cant understand why when you click on the chart all the symbols vanish.Trade active
still short with stop at the highs($51.64)Note
Still short, stop in the original place, I have no idea what MASHRU in the comments section is alluding to when he says I was stopped out. My stop as per my original post has not changed and was at 51.64 and this price was not hit. so still short looking for target 1 of circa 46.Note
"Pandora" has modified my chart above to showing wave counts, i dont use elliot wave or any wave counting techniques so if his wave counts help you all credit should go to him.Note
His wave count chart is below in the comments sectionNote
Still short with stop in original place, looking for target 1Note
Trade now not good as stop is close, if stop is triggered I will update.Note
Short still open stop in original place and target 1 as aboveNote
still shortNote
Still short all targets and stops remain the same, thanks for the comments belowNote
Trade still active.Note
Still short one small adjustment is that i may exit the short at 47 instead of 46, for those who are aggressive holding for 46 or less may seem reasonable but until I see the velocity of the move to those levels I may exit a little higher. I will update as we start dropping. Thanks for lookingNote
Stop triggered, on to the next trade.
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