Patterns repeat

US OIL idea
SHORT @ $50.40
Stop loss at $51.64(red X)
Target one green flag at circa $45.5-$46.00
Target two at $39.23.

If target one is successfully hit I will exit full position and re-short on a 50% pullback towards the highs place my stop at the red X again and target, target two @ $39.23

But lets see whether target one is hit.

Its a good risk reward trade as stop is close so if I am wrong my losses are small.

Comment:

Apologies, I cant understand why when you click on the chart all the symbols vanish.

Trade active:

still short with stop at the highs($51.64)

Comment:

Still short, stop in the original place, I have no idea what MASHRU in the comments section is alluding to when he says I was stopped out. My stop as per my original post has not changed and was at 51.64 and this price was not hit. so still short looking for target 1 of circa 46.

Comment:

"Pandora" has modified my chart above to showing wave counts, i dont use elliot wave or any wave counting techniques so if his wave counts help you all credit should go to him.

Comment:

His wave count chart is below in the comments section

Comment:

Still short with stop in original place, looking for target 1

Comment:

Trade now not good as stop is close, if stop is triggered I will update.

Comment:

Short still open stop in original place and target 1 as above

Comment:

still short

Comment:

Still short all targets and stops remain the same, thanks for the comments below

Comment:

Trade still active.

Comment:

Still short one small adjustment is that i may exit the short at 47 instead of 46, for those who are aggressive holding for 46 or less may seem reasonable but until I see the velocity of the move to those levels I may exit a little higher. I will update as we start dropping. Thanks for looking

Comment:

Stop triggered, on to the next trade.