USOIL - 4H - Inside Key zone
Updated
We are currently on the edge. the question is: B wave or one more impulse down?
If we can make new highs above the box, this will mean most certainly the confirmation of the B wave. try to look for shorts in the area of the B.
if we can however make new lows below the white box then i think another impulse down is likly.
note: another impulse down first would ofc. mean alot more time spend in this ABC correction while a confirmation of the B wave would mean the ABC would be finished alot faster thought this year.
If we can make new highs above the box, this will mean most certainly the confirmation of the B wave. try to look for shorts in the area of the B.
if we can however make new lows below the white box then i think another impulse down is likly.
note: another impulse down first would ofc. mean alot more time spend in this ABC correction while a confirmation of the B wave would mean the ABC would be finished alot faster thought this year.
Note
Note: whitebox ranges from 3735 to 3830if you need a reason to go short below the decession zone. you could take this head and shoulders pattern
if you need a reason to go short at the B point you can take this shark pattern PRZ right at the 618 retracement.
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.