USOIL Short Trade Setup

6 May 2021

The last top can be the end of the wave B. It has come down from almost 0.886 retracement of the A wave, and the reaction was strong. It looks like we have a complete correction after the potential reversal impulse. My expectation is the C wave for a complete 4th wave. If the wave 4 is in the making, I think it will drop to the trendline. Now, I'm waiting for a trade setup after the correction to place a pending order.