A significant rise for US oil today helped it to register a new high suggesting that blue wave 4 circled is in place. The new high confirms the bullish move higher and as a result, I am looking to buy the next dip, the most recent move counts quite well as a 5 wave move such a move is normally followed by another similar move after a pullback.
The proposed pullback needs to be of sufficient length (somewhere near the 50% line) and unfold in a clear pattern that allows me to set an entry level and well-defined stop loss.
Buying the dips is one of the oldest and most profitable strategies but it requires patience and careful planning
The proposed pullback needs to be of sufficient length (somewhere near the 50% line) and unfold in a clear pattern that allows me to set an entry level and well-defined stop loss.
Buying the dips is one of the oldest and most profitable strategies but it requires patience and careful planning