USOIL Short Trade Setup

Apr 19, 2021

It seems like the last top was the end of the 3rd wave, and now, 4 is in the making. As you can see my expectation is a downward impulse to the trendline. My target is 1.272 extensions of A and 0.382 retracement of 3. I placed a pending order under the last low because we may have a complete running flat, but I'm waiting for a lower degree trade setup to modify my order.