OIL GOING FOR SINGLE DIGITS HERE?
Updated
MAN OIL LOOKS F**KED. WHY? WELL IT LOOKS LIKE WE ARE IN A HUGEEE FLAT , FROM THE LOWS WE CAN SEE WE NEVER MOVED UP IMPULSIVELY , IT WAS ALL CORRECTIVE WAVES. SO WHEN YOU COUNT THE WAVES FROM THE TOP WE CAN SEE THAT WE MOVED DOWN IN 5 WAVES FOR THE FIRST SEGMENT AND THEN MADE A 3 WAVE FLAT AND NOW WE CAN ONLY ASSUME THAT WE MIMIC THE FIRST SEGMENT. NOW SINCE THE FLAT WAS CONFIRMED WE MOVED DOWN IN 3 WAVES AND NOW WE'RE ANTICIPATING THE 4TH AND THEN 5TH WAVES RESPECTIVELY. IF W5 IS 0.618 OF W1 THEN OUR TARGET IS $14. THIS CHART IS MORE OF THE LTF PLAY BUT I WILL POST AN ADDITIONAL LINK IN THE RELATED IDEAS SO YOU CAN SEE HOW MY HIGHER TIME FRAME ANALYSIS FITS TO THIS PIECE. I WILL CONSTANTLY UPDATE ON OIL HERE.
Note
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.