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Flat

Possible Flat correctionOil war between Russian Saud and USA, and the OPEC, OPEC+ meeting, there are many things around oil, but it seems Oil is correcting in a flat way. So there is a sideways possibility and. I am waiting for a Flat Elliott pattern as I have mentioned it in the previous oil analysis. In the Flat pattern, the B wave possible target is in a very wide range. I expect an upward turn to above 30$ but from where I don't know. The turn could be from 21, 20, 19, 18$. I will wait for a fives wave(an impulse wave) from the zone of 18-21$ and rise above 23.15 and then I try to get a long position in a falling correction. This is my strategy, in a particular that the RR ratio will be above 2.5.
NYMEX:CL1!
by MoodandMarkets
USDJPY Buy to Sell Price actionIdentified a number of PRZ of interest Overlapping Fibonacci Retracement and Extension levels - Double Bottom at 106.8900 level - Potential Flat correction at B Leg of ABC correction - Signs of strong rejection at completion (100%) of AB=CD pattern of double bottom - Looking to enter long at 50% retracement of AB=CD pattern - Projected Target is 138.2% extension level of Double Bottom Flat correction Sell Limit - Entry at 138.2% extension level of Double Bottom Flat correction - Projected Target is 70.7% retracement of major Impulse Wave; 100% Extension of AB=C Correction Always Use proper risk management
by HomeEcTradingCo
Sideways in oil for a whileAfter finding it's low at 19.50 I expect a sideways correction in oil because wave 2 was a Zigzag. The alternation in the Elliott wave suggests me that after a deep correction there will be a sideways correction. We are too early stage of wave 4, therefore, I don't know which one will be realised, a Triangle would be suitable for the coming situation, but a Flat or a type of Flat would come also. We will see it, but I will prepare for myself a sideways trading strategy, which is not my favourite. At topping point, there will be extreme optimism and vice versa. In the sideways moving, the contrary attitude is well-paid.
NYMEX:CL1!
by MoodandMarkets