As previously posted, we believe that Oil has to complete a z wave of a triple three to conclude cycle wave (2) below 67.
So far, we closed the last trade at our breakeven price (79.1) after observing that price action was overlapping and corrective (see the higlighted box.
We then still have 0.8% to risk and we are looking for a short setup around the 0.5 fibo retracement (yellow area in the main chart).
We will update below
So far, we closed the last trade at our breakeven price (79.1) after observing that price action was overlapping and corrective (see the higlighted box.
We then still have 0.8% to risk and we are looking for a short setup around the 0.5 fibo retracement (yellow area in the main chart).
We will update below
Note
0.5% fibo is at 82.212, while the level for which a=c in B is 83.7.Trade active
short @81.8 stop loss 84 0.6% riskTrade active
0.5 fibo wickedTrade active
stop loss on entryTrade active
looking for entering another short positon
Note
Trade active
now our average entry is 81.1 risk 0.5% of equity at 82.4.Trade active
Golden Zone. Stop loss on average entry 81.1. This can still make an higher high.
Trade active
Closed at entry.Trade active
Restriked 81.4 Stop loss at 82.4 is 0.4% of equity
Trade active
stop loss on entry
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Related publications
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.