USOIL: Potential Butterfly Pattern

9 ก.ย. 2015

Price has broken a long term resistance and after a small rally it makes a correction. In the chart we can see a potential butterfly pattern where its D point is at the 0.618 of the impulsive leg which broke the resistance level. In elliot wave i believe this at D point we have the begining of wave 3.

Entry Point: 42
Stoploss: 39.75
Profit Target: 52.30

Good luck to those who will follow. :)