PetroDollar (XPD): Observe the Wedge Fractals & Matching MACDs

SUMMARY

PetroDollar (XPD) is completing a fractal set. The blue box harbors two wedges (blue & white) and the white botx contains two triangles as well. A fractal need not be exact; only similar. The blue box shows what happened to the price after the two wedge patterns were complete.

The MACD is also matching the fractal pairs. The blue contracting lines resulted in an explosion of MACD that drove the price to a near 88% recovery. The white contracting lines are showing pretty much the same characteristics of the first. A breakout would support the next rally into July.

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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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