#CRUDEOIL headed down in Wave C Short

Crude Oil FuturesNYMEX

Description

⋅ Sep 24, 2020 5:00 PM

#CRUDEOIL should head down below recent lows in wave C as part of the correction following the break out from the ending diagonal .

Trade active

⋅ Oct 4, 2020 7:17 AM

#CRUDEOIL moving down in Wave C as anticipated. Continue holding short positions. expected range is 30-34. We'll look at this more closely as the downtrend progresses

Comments

charliew1211

⋅ Oct 2, 2020 7:47 AM

Hi, just a quick question, I'm not to brushed up on Elliott wave theory, does wave c usually pass a low as a rule then?

SolomonsView

⋅ Oct 2, 2020 8:32 AM

@charliew1211, yes Charlie , almost always. C is usually = A or 1.6 times A . This means it will overshoot A on the charts

There are other situations but this may be limited space to explain

charliew1211

⋅ Oct 2, 2020 9:55 AM

@SolomonsView, Thanks Solomon, much appreciated