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ivanov.v.vlad

WTI / USOIL Wyckoff / EWs Short scalp 62,3-62,5

Short
CFDs on Crude Oil (WTI) (FX:USOIL)  
ivanov.v.vlad Updated   
FX:USOIL   CFDs on Crude Oil (WTI)
Chart Patterns Wave Analysis WTI Crude Oil
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chartpattern waveanalysis wti crudeoil
We are in a Wyckoff re-distribution on M15. Price jumped on API build however stopped @~ .618 fib of the correction from the LOD. This could mark B leg of the correction with C taking it above 62 again. Per Wyckoff, this new leg up is expected to stall at the supply trend-line and in such a fashion, mark the LPSY. This move should be followed by a re-test of 61,5x -61,3x and another failed attempt at the supply line which will result in the next leg down to 59.
Comment:
Crazy day we'll have today however I will start building a short position with 62,5x.
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