USOil moved exactly as we anticipated. first the third corrective leg, second the impulse lower we were anticipating.
Next I will focus on whether we see a correction or a sharp reversal.
My previous post about this instrument can be found below as 'related idea'.
Next I will focus on whether we see a correction or a sharp reversal.
My previous post about this instrument can be found below as 'related idea'.
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I described my bigger picture several times and I still see both long and short as very likely for now. So let structure tell us what to trade next.
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I expect to see another leg higher to complete an ABC correction. However if structure changes I will adjust (and update). For now this is the highest probability set-up and we now have to focus on whether or not we see another minor leg lower to be next. Conservative entry will be after a minor impulse-correction which can be executed on all time frames depending on your preference.
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