This would be a . My comments this morning were....
The 15 minute chart I looked at was slightly rising, but the strength of the trend was neutral, not strong. I looked for any new buy fractals on the 15-30-45 minute charts and saw none. When I looked at a one hour, two hour, and then a three hour chart, all had valid sell fractals at 43 even, and the strength of the down-trend ( indicator) was well below 38.2, indicating strong down-trend action is very likely to resume. My best analysis would be an up move to between 44.03 / 44.28. At these points I would search for a valid sell on the 15 minute chart. I would then confirm by looking at phase energy and momentum indicators (rolling over), and CHOP, to see if the anticipated trend reversal was strong, or weak. (End of recap).
Light-Crude reversed at 44.67, which was a Fibonacci . .
There are many sell signals.
1. Sell Fractals in effect (rectangles on chart). I prefer sell candles outside of the jaw (not just below teeth), but the 1-3-5 minute charts have all reversed.
2. jaws CLOSING in tandem with sell . Now it will likely reverse and feed in down-trend.
3. (under chart) (indicates a trend or choppy action) is NOT below the 38.2 shaded area. THE SHORT TERM UP-TREND WAS NOT STRONG.
4. Phase energy (lower top indicator) is heading lower (multiple consecutive red bars and the action is heading BELOW the zero line).
5. Momentum (middle top indicator) is the 5/34 measure, and this is heading DOWN.
6. Prices are trading below the thick red conversion line.
8. Prices are trading below the Ki jun-Sen baseline of the .
9. The trend-line is heading down (thick golden line just above the ).
What I am looking for now is a confirmation of the two sell fractals. The third sell confirmation would have to be in tandem with falling phase energy, a continuation of the feeding in the down-trend, and, ideally, the CHOP (indicator under chart) would be heading lower. This would indicate the new down-trend would be getting stronger.
Good luck to you in all your trades. Don.