Oil has reacted extremely well to Harmonic Zones. 4/5 last trades have been successful. Hopefully I didnt jinx this trade set-up.
Trade Plan:
Late for the Type 1 Reaction Trade on the daily Time Frame. ( Will be looking on a lower TF for a Pullback to enter the Type 1 Trade)
If we get an opportunity to go long we will hold the trade until a close below the red trend line.
Price usually retests the reversal zones. On a re-test re-enter long. For the Type 2 Harmonic Trade.
Note: Price usually returns to the Tunnel during the 3-4 leg.
Sequence of Wavy Tunnel Trades We will also be taking.
PF: Price to Filter ( green 12 EMA )
PW: Price to Wave ( Purple 34 EMA High Low Close )
FG: FIll the gap Trade ( A close above the wave triggers a trade to the Tunnel 144 and 169 EMA. Note : Price usually retraces after the first close above the wave
We like to enter this trade on a 123 pattern but an alternative enter can be on a trend line break of the 1-2 leg of the 123 pattern )
BO4: Breakout 4 Trade ( The best case would be if price goes to the Tunnel and enter on the first candle close off the tunnel called the tunnel bounce On a shallow
wave 4 completion we can enter the trade short on a trend line break to follow price to Wave 5 completion and Crab Potential Reversal Area)
Note: These are not trade recommendations or signals. Trade responsibly and to your own trade plan.
Trade Plan:
Late for the Type 1 Reaction Trade on the daily Time Frame. ( Will be looking on a lower TF for a Pullback to enter the Type 1 Trade)
If we get an opportunity to go long we will hold the trade until a close below the red trend line.
Price usually retests the reversal zones. On a re-test re-enter long. For the Type 2 Harmonic Trade.
Note: Price usually returns to the Tunnel during the 3-4 leg.
Sequence of Wavy Tunnel Trades We will also be taking.
PF: Price to Filter ( green 12 EMA )
PW: Price to Wave ( Purple 34 EMA High Low Close )
FG: FIll the gap Trade ( A close above the wave triggers a trade to the Tunnel 144 and 169 EMA. Note : Price usually retraces after the first close above the wave
We like to enter this trade on a 123 pattern but an alternative enter can be on a trend line break of the 1-2 leg of the 123 pattern )
BO4: Breakout 4 Trade ( The best case would be if price goes to the Tunnel and enter on the first candle close off the tunnel called the tunnel bounce On a shallow
wave 4 completion we can enter the trade short on a trend line break to follow price to Wave 5 completion and Crab Potential Reversal Area)
Note: These are not trade recommendations or signals. Trade responsibly and to your own trade plan.