US Oil - Last downward leg

Hello traders,
as you can see from the chart above, we believe that oil is about to finish cycle ((2)) correction with the last C wave of a triple three (labeled in the chart).
After a 5-leg to the downside (wave A of (Z)), price corrected with a three wave abc into previous structure, that acted as resistance.
Price created a triple top at 82.61, and as per previous post we entered short @81.95. Our stop loss is now on entry and we target the area showed below (57-63) for the end of this 535 in wave (Z) at the golden fibo zone+weekly bearish wolfe wave target.

Will update below.

İşlem aktif:

retest of structure. added short. stop loss on average entry @80.75

İşlem aktif:

First target 74.5. Then will revaluate the price action for other setups keeping half of the position. Final target for this downward move is 63-57 area

İşlem aktif:

planning first tp (half of position) at the trendline

İşlem kapandı: hedefe ulaştı:

Closed half at trendline @75.68. Profit= 2.6% of Equity.
Leavingthe other half roll with stop loss on entry at @80.75

İşlem elle kapatılmış:

Nice reaction at the trendline. Five wave structure completed, but not impulsive: hence we took full profit closing the other half.
Total Profit: 5% of Equity!
Will update for new setups

Yorum:

Breaking down.. we just took profit but.. it happens ;)
Good confirmation for our short scenario, planning to re enter short at the next setup!

İşlem aktif:

trendline held well indeed .. double bottom on it and descending wedge. Scalping long up to the wedge trendline, insurance in case of breakout.
Entry @75.6 sl 75.1 risk 0.5%

İşlem kapandı: hedefe ulaştı:

tp reached at the 50% fibo-upper trendline. @77.26 close profit 1.3%!

İşlem aktif:

now we resume the downside for the next measured move and the biggest picture.
Short entry @77.26 stop loss 78 risk 0.5%

İşlem aktif:

stop loss on entry ;)

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breaking down

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algo tp hit.Not closing. Holding short for our lower targets. Stop loss on entry at @77.26

İşlem aktif:

retest upper wedge TL and previous TL. added at 75.6. AVG entry @76.3

Emir iptal:

closed on entry on ww upper trendline breakout. targets in chart. waiting for it higher

İşlem aktif:

zig zag target reached. 61.8% retracement.
short @78.18 sl 80.2 risk 0.6%

İşlem aktif:

stop loss on entry