yep - as I always state, you almost always get at least a
reaction move off that 61.8% Fib - got it today on USO.
also as I stated last night, one of my comments were that the
way I had the lower trendline of the wedge drawn - I stated that
the lower trendline was most likely not steep enough and I would
have to adjust - which ended up being the case. compare the two
images here, the current one on the left and the one from last
night - good educational
for now I can count 4 waves in the wedge (better to have 5 waves
or a truncated higher low 5 inside that wedge), however to me that
61.8% Fib was an objective 1st entry with a stop
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yep - as I always
crude oil
Posted by matt on 18th of Oct 2022 at 02:15 pm
yep - as I always state, you almost always get at least a reaction move off that 61.8% Fib - got it today on USO.
also as I stated last night, one of my comments were that the way I had the lower trendline of the wedge drawn - I stated that the lower trendline was most likely not steep enough and I would have to adjust - which ended up being the case. compare the two images here, the current one on the left and the one from last night - good educational
for now I can count 4 waves in the wedge (better to have 5 waves or a truncated higher low 5 inside that wedge), however to me that 61.8% Fib was an objective 1st entry with a stop