USOIL - Bearish Wyckoff Creek

1 พ.ค.

USOIL

Ok I've got my bearish hat on today 🤠.

Starting to look at the possibility that rather than this area being accumulative that it may be the 3 wave pattern that we have seen in many charts and in multiple markets.

It is everywhere.

It is of course the 3 wave correction where the 3rd wave is the shallow Wyckoff Creek.

In this instance it is the Inverted Creek because the wave is ascending and the pattern is potentially bearish.

Notice that it topped in the 0.618 retracement Golden Window.

That could be a clue that this pattern is on.

So just like with S&P and Bitcoin, the projection here will come from seeing how impulsive this following bearish wave is in comparison to the ascending channel.

This is where it can be advantageous getting in early on these moves as shown before

I didn't have a higher time frame idea then, but now it is picking up speed, the higher time frame bearish scenario looks like a possibility.

If it is then crude oil can be heading much lower; back to sub $50 🧐

Not advice.

1 พ.ค.

บันทึกช่วยจำ

USOIL

Another bearish shakeout has triggered a more impulsive wave and this is starting to get very interesting 🤠.

3 พ.ค.

บันทึกช่วยจำ

Easy 💰💰💰

I can't give all of these to TradingView exactly as I enter them but this call is already well in profit, and could be MUCH more to come.