OIL - 4H - Sharkpattern forecasting an upcoming abc correction??
Updated
I already expected the recent downmove to be the start of a bigger abc correction but we spiked higher. now we reached the PRZ of the shark which will be a key zone an i think a good chance that we might see the anticipated abc correction (finally)
How big this might be will show, but i think the lines shown in the picture are the minium size. but techically C could very well go further down.
How big this might be will show, but i think the lines shown in the picture are the minium size. but techically C could very well go further down.
Note
good spike up today. i attempted the first short earlier this morning based on the break of the trendline of the 4-5 (5th wave) move but did got stopped out for breakeven. after that only upward momentum. wave 5 can very well still go up to the 42 area before i see the correction starting.keep an eye out for trendline violations in the 5th wave to get an indication that the correction is starting.
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