Joseph_King

Crude Oil Elliott Wave Idea

Joseph_King Mis à jour   
TVC:USOIL   CFD sur Pétrole brut WTI
A bearish alternative to this idea >
And smaller timeframe analysis to this theory >
I think it's possible that Fridays movement was an ABC to complete a larger degree wave 4. If you look on the 5m chart here > You can see 5 waves up (orange) before a pull back to the .236 level then up for one more wave which could be C; from the top there appears to be a starting wedge for what could be wave 1 down.

The key level for this theory to play out is Fridays high, above that level then the move is invalid (wave 2 crossing wave 1 starting point).
Commentaire:
Invalid now a Fridays high broken.
Commentaire:
THis turned out to be the right idea, I miscounted the ABC before the new high

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