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glennmercer

Long USOIL: Wolfe + Shark + December Pivot

Long
CFDs on Crude Oil (WTI) (FX:USOIL)  
glennmercer Updated   
FX:USOIL   CFDs on Crude Oil (WTI)
Crude Oil WTI Oil crude glennmercer gmercerfx USDCAD Wolfe Wave Bullish Shark Shark Harmonic Patterns targetline confluence PRZ
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usoil oil crude glennmercer gmercerfx usdcad wolfewaves bullishshark sharkpattern harmonicpatterns targetline confluence prz
USOIL could potentially complete a bullish Shark in the PRZ of a bullish Wolfe wave setup. The targets for both patterns align precisely with the unhit pivot for December, 2015. SL is placed at 113% retracement of the shark CD leg.

Confluence in the PRZ:
  • Bullish shark pattern completion
  • 2BC projection
  • 1.5AB=CD completion
  • Bullish Wolfe wave setup
  • Unhit monthly pivot for December, 2015 above price
  • Bearish USDCAD patterns setting up on same TF (see related ideas)

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Comment:
Rebounding nicely!

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