A lot of people are calling 40 dollar oil.. 25 dollar oil.. I like to look just a few days ahead and see where price will go next. Who needs patterns and wave counts when you have random lines and colorful boxes. .. Also a (pro) oil trader said as time goes by oil price will go up.... ( this kind of thinking will destroy your $$ and your overall performance.)
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this is the time? tight sl when you have a chance nice risk.reward! I do not trade oil personally I am in drillers and Xom take note. break of upper black box= red box lower box= green box that easy folks.
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ALSO keep in mind price action rejection above black box is ultra bearish,.......no consolidation it = doom. but trade your own system.