OIL: where are you going to?This is my preferred count for OIL as the most recent downmove was so violent that it seems to be the beginning of a new trend.
Looking for continuation lower into a three wave move to compose higher degree wave Y.
As always questions and comments are more than welcome,
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Trade Safe!
Usoilelliotwavecount
US Oil Short Weekly Chart Monthly chart already Published
Here is my Weekly chart with Bit more explaining the short wave .
Short From 56.50 till 20.00 will be in ABC Formation ( As it is a Corrective Pattern )
Further division of ABC as bellow :
A= 12345
B= abc
C = 12345
Trade Plan ::
Lets wait for the Completion of X at 56.50
I will wait for (i)of A to complete
(ii) of A will be a Pullback there after a Congestion
I am going to enter into short trade at start of (iii)of A
many happy green pips to you all
Elliot Wave By mazchaudhry
Trade at your own Risk .