Long
"Caught up" in MA's rhythm .. Dancing shoes off the shelves!!!
For me...a lesson was learned today ... Have to do the TA on the security instead of the derivative. Oil looks ok see USOIL chart below:
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Futures are decisively lower after close of market than the lower trendline drawn in.
So last chance for the E wave count would be to attach the lower trend line to the B-leg wick that gives a tolerance for a drop to the 3.20. See chart below
It would take a "good" API report to bring it up closing the gap..... and go further!!!
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Written yesterday before close
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Seems like E is done today and wave C up can begin.
Due to the negative sentiment....
we could see a gap up tomorrow.
That would spark the short squeeze needed to get oil up to target.... wave 4 of lower degree.
Low risk entry with a stop at 3.32
Safe trading ladies and gents
BLawrenceM
Music at work:
youtube.com/watch?v=mSpgwN5msvE
open.spotify.com/track/2fbnWimjwW08r6RIsANmIq
NB The white B is missing at the top of 4.13 (see chart underneath)
--------------------------
Futures are decisively lower after close of market than the lower trendline drawn in.
So last chance for the E wave count would be to attach the lower trend line to the B-leg wick that gives a tolerance for a drop to the 3.20. See chart below
It would take a "good" API report to bring it up closing the gap..... and go further!!!
----------------------------------------
Written yesterday before close
----------------------------------------
Seems like E is done today and wave C up can begin.
Due to the negative sentiment....
we could see a gap up tomorrow.
That would spark the short squeeze needed to get oil up to target.... wave 4 of lower degree.
Low risk entry with a stop at 3.32
Safe trading ladies and gents
BLawrenceM
Music at work:
youtube.com/watch?v=mSpgwN5msvE
open.spotify.com/track/2fbnWimjwW08r6RIsANmIq
NB The white B is missing at the top of 4.13 (see chart underneath)
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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.