BULLS BE CAREFUL - US OIL APPROACHING TO BEARISH CRAB TERRITORY

Hi,

US OIL heading to bearish crab territory - levels highlighted on chart.

Aggressive entry : Limit order at 1.618XA = 71.9
Stop : +10 to 20 Pips
Conservative entry : Watch Price action on lower time frame ( 1 hr) & enter if get reversal price action such as double top or candlestick formation
Target 1 - 38.2% of AD leg , when attained move stop to breakeven or book partial qty.
Target 2 - 61.8% AD leg

Trade with care,
Gulz

Comment:

Trade active

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Nice rejection ..

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Free fall

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This trade taken time more than anticipated as it was forming wedge pattern ... finally we got strong bearish price action, we can aim our targets with stop above 73.. new positions can also opened at cmp 72

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Wedge broke down on the hourly chart

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Hope a close below the green line may trigger the fall

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awsome move

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Trade active:

280 Pips

Comment:

Free fall .. +450 Pips
Are we on wave 3 ? its always dream for a trader to get entry on wave 3

Trade closed: target reached:

First Target hit
Last low @ 65.82
Book half position and hold remaining for target 2 ( by trailing stop)

Trade closed: target reached:

64.2 is the last low .. move stop close to 65.5 or close the position entirely..
It was looking a zig zag (abc) correction, soon the trend may change to bullish