Elliott wave analysis on usoil (2016-07-30)

30 Tem 2016

Oil started rebounding when it came to the potential reverse zone at Friday.

From elliott wave analysis, the correction wave completed likely.

Break out of the sharp decline channel will confirm the rebound.

Trading suggestion:
Go long when it breaks out of the decline channel with SL at 40.5
TP1: 43.19
TP2: 44.51
TP3: 45.90

No confirmation, no trading!

Good luck for everyone!

1 Ağu 2016

İşlem aktif

1 Ağu 2016

Not

Be careful! it might be a false break. I set a tight Stop Loss at 40.5!

1 Ağu 2016

İşlem kapandı: durdurma seviyesi

Oil is still very bearish. I shorted it again. I am looking forward it going to bottom of the weekly decline channel.

3 Ağu 2016

İşlem aktif

tradingview.com/chart/jHqp4dh0/

3 Ağu 2016

Not

4 Ağu 2016

Not

Nice rally!