The pair ended a cycle in wave (1) at .8276 where the 4 is turning up. While above the .8421 lows where the hourly right side is up it can see a bounce correct the cycle from the .9331 highs from 8/12/2019 where the daily is turning down.
Crude is favored ended correcting the cycle up from the 12/24/2018 lows at 51.05 on 10/3/19 where the 4 hour is turning up. The wave (1) cycle from the 10/3/19 lows has ended at 65.68 and while a bounce fails below there expect another swing lower to correct the cycle from the 10/3/19 lows.
Up For 3/C ! OANDA:AUDCHF
Crude is favored ended correcting the cycle up from the 12/24/2018 lows at 50.99 on 10/3/19. The 4 hour is turning up from there. Ideally while a pullback remains above the 60.62 lows where the hourly right side is up it can see the 66.00 area in wave (1) cycle from the 10/3/19 lows.
2 candle bullish pattern coming out of the 50 ema, plus TDI correct
Divergence on the bottom on the 15min OS on the 1hr Remember: Divergence = Change, after we mark up a DV does not mean a reversal, some times is just a little change of the trend
Trade with >70% probability: sell short @ 1,1074 stop loss @ 1,1093
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Trade with >70% probability: buy long @ 1,1015 stop-loss 1,0998
According to my wave count ( Elliot wave) we are going to see wave 5 soon after wave 4 will be sone at the level of 1440-1430 so we can have long position from that point by taking stop loss 1400 and target as explained in the chart. this is just a view which is only for educational purpose, please don't invest until you have some financial advice from an expert.
Risk: 34 pips Gain: + 21 pips Gain/Risk Ratio: +61,76% Theoric Probability: > 70% Actual Probability: + 85,41 % Total Gain: + 688,10 pips
Trade with >70% probability: sell short @ 1,0974, stop-loss 1,1008
Risk: 16 pips Gain: +1 pips Gain/Risk Ratio: +6,25% Theoric Probability: > 70% Actual Probability: + 84,78 % Total Gain: + 643,10 pips