WTI Waves and Zones
WTI is in a September 2023 to form a Large Multi Month Triangular Consolidation.
We are nearing the pointy end.
On the lower time frame , this leg can be seen to be playing out in 5 waves.
We are in wave 4 , and price is consolidating a Supply Zone. The 4th wave
may be in 3 for an ABC movement.
I am looking for a First Test Rejection of Supply. Its not sharp, its not quick. It's a small
rectangular consolidation. So maybe a small rejection to B , before a break higher to 80.
The final leg would target the ascending supporting trendline and a move to 75.
I like these big round numbers.
We are nearing the pointy end.
On the lower time frame , this leg can be seen to be playing out in 5 waves.
We are in wave 4 , and price is consolidating a Supply Zone. The 4th wave
may be in 3 for an ABC movement.
I am looking for a First Test Rejection of Supply. Its not sharp, its not quick. It's a small
rectangular consolidation. So maybe a small rejection to B , before a break higher to 80.
The final leg would target the ascending supporting trendline and a move to 75.
I like these big round numbers.
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.
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.