Waiting for this bear flag to complete, we should not get above the flag because than the fractal might be invalid!
Could be a great RR when waiting for a good entry. I would start out small and increase on the way down after confirmation.
The fractal shows an almost identical move.
Could be a great RR when waiting for a good entry. I would start out small and increase on the way down after confirmation.
The fractal shows an almost identical move.
Note
Oil is moving perfectly as the fractal shown here. The target zone is the blue circleNote
Target zone has been reached already, wise to take some profit already (if not already done yet). This bounce could become a reversal already. So move stops down as well to at least around 74ish to guarantee some profit.Note
Oil tested the 75ish again last week and got dragged down with the whole market later on. So far it's around a important support level at 71/70. If that breaks we could go to the 65/67 range. On the left it looks like an ugly bear flag that is about to break.
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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.