Your descending broadening wedge is turning out to be as laughable as the vast majority of your other predictions. You have to be taking a major beating on your Short postion. That is, if you follow your own advice, which I seriously doubt.
Good morning GC. Good to hear from you again. PBF has multiple chart patterns. These include a possible Inverted Head and Shoulders bullish chart pattern with a target of 27.19. However, there is also a Falling Channel and Descending Broadening Wedge. Both these pattern are bearish and strong chance it will keep the IHS from playing out. The top of those trend lines is 25.78.....I cannot pick up the bottom trend line for these 2 patterns at this time, but appears to be below 20. Both patterns also have a bearish 13/34 crossover and a bearish alignment of the moving average trio 50/20/10......The CS at 21.20 tells me you will see that price again. It is a good support area, but I believe it will get taken out because that price is sitting on an important trend line. The next point needs to be lower than 21.20.
P47, I am aware of Elliott Wave Theory, but I find it too complicated. I do know that when I see a gap it has something to do with a wave. I also know that wedges and triangles are made up of multiple Head & Shoulder and Inverted H&S patterns.
At this time, I do expect a Head & Shoulders pattern to form inside my Descending Broadening Wedge pattern.