CL has found resistance in its 4th wave pullback at around the $34.50 - $35 mark, coinciding with the uppar limits of Green Pullback zone. If it holds, all indicators point to a downward move below $28, with two significant points of resistance along the way ($30.13 and the previous low of the curve at $27.34.)
An aggressive entry would be just below $32.50. however a higher probability entry sits just below the previous pivot at $31.78.
ODDS ENHANCERS
W5T Oscillator crowning nicely between 90% - 140%
Price action so far remains in the higher probability Green Zone
Bearish False Breakout Stochastics
An aggressive entry would be just below $32.50. however a higher probability entry sits just below the previous pivot at $31.78.
ODDS ENHANCERS
W5T Oscillator crowning nicely between 90% - 140%
Price action so far remains in the higher probability Green Zone
Bearish False Breakout Stochastics
Kommentera:
* $33.60
Order avbruten:
The trend has finally turned downwards at around 10pm last night.
With Oil data coming this morning, and a protracted 4th wave move, I'll sit this one out. Interestingly, a BITS signal short has formed at $32.61 on the 60 min TF, and on the 240 min there is an incomplete looking 5th wave forming with a BITS signal close to the $32.50 entry (which would be a safer entry now as it falls well below the 6 4 MA's. I'll keep an eye on this out of curiosity but will look for other opportunities elsewhere.
With Oil data coming this morning, and a protracted 4th wave move, I'll sit this one out. Interestingly, a BITS signal short has formed at $32.61 on the 60 min TF, and on the 240 min there is an incomplete looking 5th wave forming with a BITS signal close to the $32.50 entry (which would be a safer entry now as it falls well below the 6 4 MA's. I'll keep an eye on this out of curiosity but will look for other opportunities elsewhere.
Kommentera:
In hindsight:
Kommentera:
With such a nicely developed trend an entry at the first pivot break would make sense - in this case just below $33.50. Let's see where this goes.
Another entry at the break of the trend line at $32.90 is conceivable.