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jjthomas94

A possibile Sharp Fall!! - Bearish Butterfly & Broadening Wedge

Short
CFDs on WTI Crude Oil (TVC:USOIL)  
jjthomas94 Updated   
TVC:USOIL   CFDs on WTI Crude Oil
Harmonic Patterns Elliott Wave Trend Analysis Bearish AB=CD Bearish Butterfly potentialreversalzone Fibonacci Retracement Broadening Wedge megaphone elliotwaveanalysis
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harmonicpatterns elliottwaves trendanalysis bearishabcd bearishbutterfly potentialreversalzone fibonacciretracement broadeningwedge megaphone elliotwaveanalysis
Expecting USOIL to go for a sharp correction.

Harmonics 4-point & 5-point pattern helped identify a Potential Trend Reversal Zone, where bullish movement may end & trend may reverse.

Got a terminal candle confirmation in the PRZ.

Also, in a broader view prices formed a Broadening Wedge Pattern (a-b-c-d-e wave structure) which might possibly be a B-wave in an A-B-C Correction Wave pattern.
Trade closed: stop reached:
Fell short of T1.
Followed the green line and took support along the Trendline
Comment:
Price moved upside

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