It looks like USOIL is preparing to complete it's two month long correction phase. The pattern in question seems to be a zig-zag correction pattern tha consists of a 5 wave to form (a), 3 waves to form (b), and 5 final waves to complete (c).
I will be looking to ride wave 5 that will complete wave (c) and then start looking for longer term short opportunities.
Target: 84.400
Stay tuned below for trade progression updates
I will be looking to ride wave 5 that will complete wave (c) and then start looking for longer term short opportunities.
Target: 84.400
Stay tuned below for trade progression updates
Trade active
Trade active
Trade closed: stop reached
Partials taken and the rest were closed at break even. The move to the SL indicates an invalidation in the structure and a possible change in direction entirely.
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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.