[Dinerotrader]

Originally Posted by paulrico »

Sure,
As we can see from the chart above, we are looking for possible support in the cluster zone 73,74 - 74,10 (end of Wave 4). If the prices are supported in this area then we will find the wave 5 projections as possible upside targets.

Slds,

Okay I more clearly see what you are seeing. Now the question is how do you get in watching a daily chart. At what point in the (4) area will you buy?

[paulrico]

Well, as we don’t know in advance whether or not a particular zone will hold, first I what to see if this area will stall the market and I then look for a (daily) bullish reversal bar.

(update: Crude sell off through the cluster zone and the price is now testing second cluster zone, Let´s see how it works!)
sld

[Dinerotrader]

Sell setup of the day on oil was at the blue arrow for me. Price touched low of the day level, went up to touch the after hours low and then broke down for a good run.

[Dinerotrader]

My best setup of the day was a buy at break up from green line coming of the after hour low.