Crude looks to have more downside remaining (Elliott Wave)
Crude : 1H : Updated : Looks like more downside is remaining in this market. From a short term perspective either Wave 3 is complete or still continuing.
If still continuing then we should see more down move from here as an Ending Diagonal.
If Wave 3 is already complete then we expect sort of Flat formation for Wave 4 as represented by the Red arrows.Strategy : From an Intraday perspective if we see Wave 4 continuation as a Flat then we will look for selling this market for Wave 5 down, however if we see an Ending Diagonal continuation then we will wait for completion of the same to trade longs.
If still continuing then we should see more down move from here as an Ending Diagonal.
If Wave 3 is already complete then we expect sort of Flat formation for Wave 4 as represented by the Red arrows.Strategy : From an Intraday perspective if we see Wave 4 continuation as a Flat then we will look for selling this market for Wave 5 down, however if we see an Ending Diagonal continuation then we will wait for completion of the same to trade longs.
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Crude : 15 min. : Expected progression :
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Author : Think with the Markets
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
