May Crude Oil
I’ve been watching the crude market form what I believe to be a b wave triangle. I don’t think it is quite complete at this juncture. In my opinion we have recently run up to complete the c wave of the a-b-c-d-e pattern. I am patiently waiting for the d and e to materialize. This to me is an important part of any successful trading plan that is to have the discipline to allow a trade to set up. If and only if this sets up then I would be suggesting the employment of May options to take advantage of what I believe to be an extremely favorable opportunity. I really like these scenarios because the risk is so definable and my projected target is 10 % from this level. This play projects a 10 to 1 risk reward if one were to capture the move.
My analytical breakdown focuses on a blend of wave pattern recognition, long and short term geometrical extensions and momentum signal interpretation. Please feel free to contact me at Walsh Trading to discuss my insights into this or any market of your interest.
312-957-8108