Oil is in a zigzag retrace
Oil has finsihed five rising waves at 41.9 which is 0.618 position of last down waves.
It starts retracing back currently. From the structure of the wave A down, it will be a zigzag retrace which might retrace 50% or 61.8% of last rising wave.
Trading suggestions:
Wait the wave B up and go short when it retraces to 37.9~38.5 with SL at 39
TP1: 36.4
TP2: 34.8
Good luck for everyone! Comments and suggestions are welcome!
It starts retracing back currently. From the structure of the wave A down, it will be a zigzag retrace which might retrace 50% or 61.8% of last rising wave.
Trading suggestions:
Wait the wave B up and go short when it retraces to 37.9~38.5 with SL at 39
TP1: 36.4
TP2: 34.8
Good luck for everyone! Comments and suggestions are welcome!
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