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CRUDE OIL PROBABLY IN WAVE B OF WAVE 2 - SHORT

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Crude is probably in wave B of wave 2
As stated in my weekly chart we are bearish on this market and are not taking any serious bullish trades.

On the hourly chart crude oil has probably finished a leading diagonal as wave 1 or A and had started a wave 2 or B
we will enter short position once price breaks below $ 15.64 mark with a higher volume

ALTERNATE WAVE COUNT:
Alternate wave count suggest that the price might be in wave b as a triangle of a ABC correction and the wave c will extend upward targeting $ 20+ once it breaks above $ 18.26 with higher volume

We are bearish at this point and will only take bearish trades of this market

💡 Volume is the key factor at breakout above or below

Let see how this plays, Good Luck !

Disclaimer: This is for informational purpose only, anyone taking trades using this idea will be liable of their own loss

交易开始

Short position taken with a stop loss above the previous swing

交易开始

Targets are fibs 0.38/0.50/0.618 as the market progress

交易开始

Profit taking at
0.38 - 25% holding
0.50 - 50% holding
0.61 - 25% holding

交易开始

Stop loss moved down to last swing

注释

Stop Loss moved down to last swing

注释

Price has started to lose some momentum, price has started to diverge on lower time frames, most probably price will make a correction before hitting 0.61 fib level which is too early to say

Profit taken - 25% holding positions closed

Next profit taking at
0.38 - 25% holding
0.50 - 50% holding

交易开始

Stop loss moved down to last swing

交易开始

Profit taken - 25% holdings closed

交易开始

Stop Loss moved down to last swing

注释

We will close this trade if the hourly chart candlestick end as a hammer or something similar, the market might burst to reach fib 0.5 or 0.61 as the New York opens, however we are protecting our profits and will enter this market again once market consolidates and provides a good selling opportunity

交易结束：到达目标

Profit taken - 25% holding all positions closed

0.50 - 50% holding