In the last update on Crude I discussed the possibility that a bottom might be forming, since then the market gave the 5th leg down and now to me it seems like the bottom has formed.
I'm already long in this market and the SL is below the recent swing low.
As this is the starting of a 3rd Wave hence I expect strong movements from here on. If this market moves as expected then I will look to add more to my positions.
I will discuss the targets in a later post.
Please note that this is not an investment advice and I will not take liability for any profit or loss that you might incur from using the above view.
Good Article, In your count, I prefer to wait to see break out of wave 49.50.
NeeravYadav
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@Hoag, yup thats the logical way of going with this type of setup, but this time I was too confident with the analysis, thought I was catching the low.
Hoag
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@NeeravYadav, Good to see your confidence. I am just waiting for one more down leg to initiate longs post reversal confirmation. Will join your party but bit late :)