WTI correction Idea (short): US Crude Oil pullback

Looking at a couple of zones that might cause next leg down.
Will update and fine tune the numbers are things progress.

تعليق:

Oil trying to bounce up from the Fib Support zone as hoped.

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Still hugging the supports but no apparent hurry to leave.
US markets will be back online Tuesday, if starts selling I will join the bandwagon.

تم فتح الصفقة:

Here we are, at my first resistance zone.

Close up. First short opened upon pin rejection, drop below my zone, then retest from below.

Short opened here:

- Stop loss at Break Even, lets see how it does.
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تعليق:

Gotta love the Golden Ratio.
That spike caused ripples down to the 2.618 EXACTLY

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This is what I am hoping to see

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Hoping London open will follow one of these paths down

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This tiny but sudden move could cause waves propagating downward.

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As mentioned with previous snap shot, it looks like that sudden fluctuation has started the waves downward

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Well that was quite a wild ride, but both targets hit!

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Short position going strong.
Took 30% profit already, stops at BE on rest.
Hoping to ride it down to the $62 range

تعليق:

Nice adherence to my Fib derived zones