Brent Crude Oil (UKOIL) — H4
Formation of a Potential Wave 3 + Trendline Break (Bullish Continuation)
🔎 Market Structure (H4)
On the H4 timeframe, Brent is forming the technical conditions for the development of a potential Wave 3 to the upside, confirmed by:
a breakout above the corrective trendline (structure shift)
completion of the pullback phase (Wave 2) after the prior impulse
rebound from the local support zone with recovery in bullish momentum
transition from corrective price action into potential impulsive continuation
This setup fits a classic Elliott Wave continuation model, where Wave 3 often starts after Wave 2 completes and price exits the corrective structure.
📐 Elliott Wave Context
Wave 1: initial impulsive move up (trend initiation)
Wave 2: corrective retracement / consolidation into support
Wave 3: expected impulsive expansion higher (current scenario)
📌 Key principle:
The bullish scenario remains valid as long as price holds above the low of Wave 1.
📍 Entry
Entry: 104.540
The entry is positioned:
above the broken trendline (breakout confirmation zone)
inside the impulse activation area after correction completion
aligned with continuation momentum rather than chasing extension
🎯 Target Levels (Wave 3 Projections)
Targets are derived from projected impulse expansion zones and key reaction levels:
TP1: 114.083
TP2: 123.684
TP3: 133.386
TP4: 141.925
Each target represents a potential reaction zone and a logical level for partial profit-taking during Wave 3 development.
🛑 Invalidation / Stop Loss
Stop Loss: 95.815
📍 The stop is placed below the low of Wave 1, which:
invalidates the Wave 3 bullish scenario if breached
signals a deeper correction / structure failure
protects against a false breakout and reversal
🧠 Risk & Trade Management
Trend-following setup
Wave 3 can accelerate quickly once momentum expands.
Recommended approach:
partial profits at TP1 / TP2
move stop to breakeven after clean impulsive continuation is confirmed
avoid increasing risk during choppy pullbacks
scaling is preferable only on pullbacks that hold above the broken trendline as support
📌 Summary
Brent on H4 shows a corrective trendline breakout and structural conditions for a potential Wave 3 continuation to the upside.
The bullish scenario remains valid above 95.815, with upside targets at 114.083 → 123.684 → 133.386 → 141.925.
Formation of a Potential Wave 3 + Trendline Break (Bullish Continuation)
🔎 Market Structure (H4)
On the H4 timeframe, Brent is forming the technical conditions for the development of a potential Wave 3 to the upside, confirmed by:
a breakout above the corrective trendline (structure shift)
completion of the pullback phase (Wave 2) after the prior impulse
rebound from the local support zone with recovery in bullish momentum
transition from corrective price action into potential impulsive continuation
This setup fits a classic Elliott Wave continuation model, where Wave 3 often starts after Wave 2 completes and price exits the corrective structure.
📐 Elliott Wave Context
Wave 1: initial impulsive move up (trend initiation)
Wave 2: corrective retracement / consolidation into support
Wave 3: expected impulsive expansion higher (current scenario)
📌 Key principle:
The bullish scenario remains valid as long as price holds above the low of Wave 1.
📍 Entry
Entry: 104.540
The entry is positioned:
above the broken trendline (breakout confirmation zone)
inside the impulse activation area after correction completion
aligned with continuation momentum rather than chasing extension
🎯 Target Levels (Wave 3 Projections)
Targets are derived from projected impulse expansion zones and key reaction levels:
TP1: 114.083
TP2: 123.684
TP3: 133.386
TP4: 141.925
Each target represents a potential reaction zone and a logical level for partial profit-taking during Wave 3 development.
🛑 Invalidation / Stop Loss
Stop Loss: 95.815
📍 The stop is placed below the low of Wave 1, which:
invalidates the Wave 3 bullish scenario if breached
signals a deeper correction / structure failure
protects against a false breakout and reversal
🧠 Risk & Trade Management
Trend-following setup
Wave 3 can accelerate quickly once momentum expands.
Recommended approach:
partial profits at TP1 / TP2
move stop to breakeven after clean impulsive continuation is confirmed
avoid increasing risk during choppy pullbacks
scaling is preferable only on pullbacks that hold above the broken trendline as support
📌 Summary
Brent on H4 shows a corrective trendline breakout and structural conditions for a potential Wave 3 continuation to the upside.
The bullish scenario remains valid above 95.815, with upside targets at 114.083 → 123.684 → 133.386 → 141.925.
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Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.