AB 1.618 Extension and AB=CD
Strong left structure
Observe the bullish price action when it retrace 42.48.
There is chance to LONG USOIL at this support level.
Stop loss is below 40.90, maybe 40.70.
Target point is 51.00
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You can also SHORT USOIL with light position at 46.18 since it is the 1.27 Extension of AB
STOP LOSS is 46.9
Target Point is 42.48
Strong left structure
Observe the bullish price action when it retrace 42.48.
There is chance to LONG USOIL at this support level.
Stop loss is below 40.90, maybe 40.70.
Target point is 51.00
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You can also SHORT USOIL with light position at 46.18 since it is the 1.27 Extension of AB
STOP LOSS is 46.9
Target Point is 42.48
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Potential Cypher pattern found by my teacher Jack (tntsunrise: ranked 5th in all time classfication)
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It's a pity that the price did not go to 42.48. I have no chance to long it. Now it seems to go straight to 51. let's see if there are any chances to short oil by then.
