US Oil - Last downward leg

2023年1月28日

Hello traders,
as you can see from the chart above, we believe that oil is about to finish cycle ((2)) correction with the last C wave of a triple three (labeled in the chart).
After a 5-leg to the downside (wave A of (Z)), price corrected with a three wave abc into previous structure, that acted as resistance.
Price created a triple top at 82.61, and as per previous post we entered short @81.95. Our stop loss is now on entry and we target the area showed below (57-63) for the end of this 535 in wave (Z) at the golden fibo zone+weekly bearish wolfe wave target.

Will update below.

2023年1月30日

交易开始

retest of structure. added short. stop loss on average entry @80.75

2023年1月30日

交易开始

First target 74.5. Then will revaluate the price action for other setups keeping half of the position. Final target for this downward move is 63-57 area

2023年2月2日

交易开始

planning first tp (half of position) at the trendline

2023年2月2日

交易结束：到达目标

Closed half at trendline @75.68. Profit= 2.6% of Equity.
Leavingthe other half roll with stop loss on entry at @80.75

2023年2月2日

交易手动结束

Nice reaction at the trendline. Five wave structure completed, but not impulsive: hence we took full profit closing the other half.
Total Profit: 5% of Equity!
Will update for new setups

2023年2月2日

注释

Breaking down.. we just took profit but.. it happens ;)
Good confirmation for our short scenario, planning to re enter short at the next setup!

2023年2月3日

交易开始

trendline held well indeed .. double bottom on it and descending wedge. Scalping long up to the wedge trendline, insurance in case of breakout.
Entry @75.6 sl 75.1 risk 0.5%

2023年2月3日

交易结束：到达目标

tp reached at the 50% fibo-upper trendline. @77.26 close profit 1.3%!

2023年2月3日

交易开始

now we resume the downside for the next measured move and the biggest picture.
Short entry @77.26 stop loss 78 risk 0.5%

2023年2月3日

交易开始

stop loss on entry ;)

2023年2月3日

交易开始

breaking down

2023年2月3日

交易开始

algo tp hit.Not closing. Holding short for our lower targets. Stop loss on entry at @77.26

2023年2月7日

交易开始

retest upper wedge TL and previous TL. added at 75.6. AVG entry @76.3

2023年2月7日

订单已取消

closed on entry on ww upper trendline breakout. targets in chart. waiting for it higher

2023年2月8日

交易开始

zig zag target reached. 61.8% retracement.
short @78.18 sl 80.2 risk 0.6%

2023年2月9日

交易开始

stop loss on entry