USOIL could potentially complete a bullish Shark in the PRZ of a bullish Wolfe wave setup. The targets for both patterns align precisely with the unhit pivot for December, 2015. SL is placed at 113% retracement of the shark CD leg.Confluence in the PRZ:
- Bullish shark pattern completion
- 2BC projection
- 1.5AB=CD completion
- Bullish Wolfe wave setup
- Unhit monthly pivot for December, 2015 above price
- Bearish USDCAD patterns setting up on same TF (see related ideas)
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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.