US OIL- Pt.5- 83.7 for the final drop?

21 Oca 2023

In our first post on Oil we stated that we are looking for a final wave C of (Z) of to conclude cycle wave 2 in the 57-63 area.
We were kicked out at entry on the last trade, and we are now looking to reopen another short position at 83.7. However, bearish divergence and our view on indexes signals that the top could still be in.
83.7 is a confluence level in which there are the 0.54 fibo retracement of wave A and the level for which a=c in wave B.
We will update below. Happy trading!

22 Oca 2023

İşlem aktif

the market seems have opened bearish. Short position from @81.55 sl 82.36 risk 0.3%

22 Oca 2023

İşlem aktif

23 Oca 2023

İşlem aktif

still holding

24 Oca 2023

İşlem elle kapatılmış

closed breakeven. waiting 83.7

24 Oca 2023

İşlem aktif

sl breakeven allows us to restrike higher. Entry price is now 81.95 sl 82.6 (previous high) risk 0.3%

25 Oca 2023

İşlem aktif

stop loss on entry