Long USOIL: Wolfe + Shark + December Pivot

Diupdate
USOIL could potentially complete a bullish Shark in the PRZ of a bullish Wolfe wave setup. The targets for both patterns align precisely with the unhit pivot for December, 2015. SL is placed at 113% retracement of the shark CD leg.

Confluence in the PRZ:
  • Bullish shark pattern completion
  • 2BC projection
  • 1.5AB=CD completion
  • Bullish Wolfe wave setup
  • Unhit monthly pivot for December, 2015 above price
  • Bearish USDCAD patterns setting up on same TF (see related ideas)


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Rebounding nicely!
Bullish SharkconfluencecrudeglennmercergmercerfxHarmonic PatternsOilPRZSharktargetlineUSDCADCrude Oil WTIWolfe Wave

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