OIL - BreakOut !
We have been channeling for a good 30 days+ in W 4 of a higher degree (chart left Yellow)
I did feel that we had a ABC retrace but im now convinced it was a bullish sequence ;) (yellow)
We channeled a textbook double Combinations (green WXY) that was a FLAT-ZIGZAG for (X) - ZIG ZAG that provided a nice channel and also had alternation on the corrective types
The last IMPULSIVE wave at the end of the ZZ was just what i was looking for to break out for the start of what should be a continuation of the bull run
Currently we are in W 4 and completed the ABC and have got some great bullish divergence in teh consolidation as will build up power
Fantastic entry atm maybe wait for a retouch of the channel but i think its pretty good to go
Once again roll stops 2 pivots behind price action
I did feel that we had a ABC retrace but im now convinced it was a bullish sequence ;) (yellow)
We channeled a textbook double Combinations (green WXY) that was a FLAT-ZIGZAG for (X) - ZIG ZAG that provided a nice channel and also had alternation on the corrective types
The last IMPULSIVE wave at the end of the ZZ was just what i was looking for to break out for the start of what should be a continuation of the bull run
Currently we are in W 4 and completed the ABC and have got some great bullish divergence in teh consolidation as will build up power
Fantastic entry atm maybe wait for a retouch of the channel but i think its pretty good to go
Once again roll stops 2 pivots behind price action
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