luismialcega
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 91.60 area is broken, there will be a short to the 90 zone.
if price goes up to retest the resistance and bounce, there will be a great short opportunity.
its look like price is going to test the main support
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.