Oil moves on news specifically the weekly oil inventory figures.....so If price is 45.87 or thereabouts on WEDS PM 14th September ....then buy the oil inventory data release to complete this butterfly pattern.....to a target of 50.50......
There is a bigger potential butterfly sequence that this is part of which would take price to 59 area.....see my other post on this...
There is a bigger potential butterfly sequence that this is part of which would take price to 59 area.....see my other post on this...
Note
The Butterfly to EXTENSION 1.618...looks actually more likely...as it completes an AB=CD move as well...
Note
lovely harmonie 5 wave impulse pattern on 1 min chart...excellent potential short opportunity coming up...on the double top formation
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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.