WTI Crude Possible Path
I noticed this pattern tracing out and wondered if there would be a mini wave 5. There is now resistance in the form of a trend line and 200EMA. Because the move up has been so fast, the momentum indicator is extremely high and well above the 14MA. Therefore, I do not think there will be any chance that this will fit my trading strategy. However, I liked the idea when I saw it and thought sharing it would be quite useful. I will keep my eye on it, just in case it becomes tradeable from my point of view. If the trade does work out, I will be looking to SELL the top of wave B.
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