USOIL - 5th wave short or a Wave 4 Failure for Long

Using our Elliott Wave Indicator suite for the TradingView Platform we have to potential setups for USOIL intraday.

Firstly and the mot probable is a 5th Wave Short through $53.50 with a $50 target in our automated 5th wave target zone. Alternatvely if we get a wave 4 falure up through our red zone (probability pullback zones) we will be looking for a long counter trend trade.

This is an example of using the rules within our Elliott Wave Indicator suite strategies to identify circumstances for both Trend and counter Trend Trades.

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