Bearish Breach – SELL Set-up – Confirmation:

Bearish Breach – SELL Set-up – Confirmation:

Our direction remains the same and the main labeling as well.
The Structure indeed has changed and we do not believe that we will see $51.50 per barrel before the expected drop.

In the previous post we were expecting one more rise for Minute B (blue) which was invalidated and we decided to review the Wave Count due to the fact that a certain rules:

• Rising Channel was Breached and reentering was rejected.
• Price entered 20th of July high which invalidates any further short-term Bullish moves.

“I am advising some caution as this set-up is considered Aggressive.
Risk what you can afford to lose and keep in mind that if you snooze, you lose.”

Wave Count Review:

• Minute B (blue) finalized in a Zig-Zag
• Minute C (blue) has started with Minuettes (i) & (ii) (red) completed and with a Bearish Extension on the way for Minuette (iii) (red).
• Sub-Minuette i (blue) unfolded as a Wedge or Leading Diagonal followed by a failed attempt to reenter the Rising Channel by Sub-Minuette ii (blue).
Bearish Breach – SELL Positions:
• Aggressive – Market Execution (after quick pull-back)
• Moderate – 48.30
• Conservative – 49.50
• SL – 50.55
• Targets – 44.50 / 42.00 / 40.50
Safety Measures:
• When in the green, moving SL to break-even or in profit.
• If Conservative or Moderate, waiting for a Flag Formation on the Red Trend-Line or the Channel, whichever case may be.
Many pips ahead!