Bear after EIA report (first reaction may be a little bullish)
The idea is on the chart
Perfect entry point would be 53.3x area
Stop 53.6
Target 49.2x (C of 5 = 1.618 A of 5)
Perfect entry point would be 53.3x area
Stop 53.6
Target 49.2x (C of 5 = 1.618 A of 5)
Note
Now I'm pretty sure that we will have another up leg to 53.4. Yesterday's bounce was to short in time to be wave E, it could be only A of E. Also waves (A) (C) and (E) tend to last longer then (B) and (D) as they are actionary waves of the triangle.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.