USOIL Bullish Wolf Wave Pattern – Explained and Trade Plan

This 1-hour chart of WTI Crude Oil (USOIL) visualizes a classic bullish Wolf Wave pattern. Wave points 1, 3, and 5 form the lower channel, while points 2 and 4 set the upper boundary. Point 5 exhibits a typical overshoot below the 1-3 trendline, confirming a reversal zone. Entry is taken at 57 after confirmation, with stop loss at 56 placed below the recent swing low. Target is projected at 61.26, aligning with the extended 1-4 trendline—this matches classic Wolf Wave target methods. RSI divergence at point 5 further confirms the bullish reversal. This setup provides a high probability trade with clear risk management. Community feedback and alternate views are welcome.