US OIL CFD Short to 69 then long to 94 ABC correction structure
Updated
Not financial advice
Trade idea moving forward
Short to 69 then long to 94.
I circled the area I believe we are repeating.
The Fisher trendline we are under it currently
Even tho the stoch shows oversold I'd be looking at the .025 area for entry.
Still has room to come down.
We had a 15% drop after the indecision candle and that was followed up by a 37% move to the upside.
We had an ABCDE correction which ended in the COVID crash of 2020
Then we had a 12345 Waves before we topped out during the start of Ukraine War.
Now we are in a corrective ABC pattern
A would be 69.00
B would 94.00
And C below 50
Again this is a monthly charts so it'll take time
Always remember to practice practice.
#PIK
Patience is Key
#TLAW
Think Like A Whale
Trade idea moving forward
Short to 69 then long to 94.
I circled the area I believe we are repeating.
The Fisher trendline we are under it currently
Even tho the stoch shows oversold I'd be looking at the .025 area for entry.
Still has room to come down.
We had a 15% drop after the indecision candle and that was followed up by a 37% move to the upside.
We had an ABCDE correction which ended in the COVID crash of 2020
Then we had a 12345 Waves before we topped out during the start of Ukraine War.
Now we are in a corrective ABC pattern
A would be 69.00
B would 94.00
And C below 50
Again this is a monthly charts so it'll take time
Always remember to practice practice.
#PIK
Patience is Key
#TLAW
Think Like A Whale
Trade closed: target reached
"A" target reached of 69.00I'm now looking for a surge and a "B" target of 93.00
This is a monthly charts so won't happen overnight but we have a clear ABC correction on the monthly going on here
Great potential for a long here to 93-94.00
Trade active
Made this chart first day of Jan 2023 with projected moves now we are going after 94.00 is my belief look at the nic "U" curve on the Stoch RsI.
Trade active
Trading plan worked out to perfection. Called the Low and now the local high. Chart was made on Jan1st 2023 and now it has completed the move I speculated.
Great call to 94.00
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.