USOIL EW Analysis - Running flat , Ending diagonal C
USOIL has been very bearish. Despite falling more than 50% in a matter of months, it has failed to produce a significant bounce. now it has produced a clear corrective count where we expected a three wave correction. A 3-3-5 running flat is where wave B exceeds wave A before wave C. Wave C must be a five wave move. In this place we have a 3-3-3-3-3 ending diagonal in great form.
This is a great trade because it is on a reliable time frame, and ending diagonals are easy to trade. breakig down the lower trend line should result in a violent cascade toward the base at least, meaning new lows. Its a great R/R ratio with a stoploss above local highs.
This is a great trade because it is on a reliable time frame, and ending diagonals are easy to trade. breakig down the lower trend line should result in a violent cascade toward the base at least, meaning new lows. Its a great R/R ratio with a stoploss above local highs.
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