it would be awesome if price move like this. you can sell the breakout of the corrective wave, and then take the next up impulse.
price is forming a wedge. i think its a really good idea selling the resistance, its seems pretty strong. but anyways, you can wait until price break the support of the wedge for a less risky trade.
its seems that the resistance of the main estructure is holding price and also with macd divergence, i can see price going to the support of the possible abcde wedge. i will trade the formation of the wedge, short the D wave, and long the E wave and then a short to the support of the main estructure if the wedge formation is cleaned and if macd still showing divergence.
if price goes up to retest the resistance and bounce, there will be a great short opportunity.
its seems that 180ema is holding with the support. I can see 49-50$ per barrel.
i am looking for a bounce of the support to go long to next key area, if we see 1.1500 area then we will be have a rally to the 1.1800-1.1900
if price test the support zone and bounce i bet we will se and up move to 07580 area.
maybe by the next week this trade will be completed but there is a possibility for today.
just broke the support. MACD shows divergence. looking good for a short on Monday!
lets wait a clear breakout of the estructure and the resistance. im very bullish on this one. MACD is showing divergence too on 4h timeframe.
clear rejection at the ema and 50%fib level also, rejection at the trend. i am looking for a short. I will be in as long as price break the support at 1180 area.