RyNinDaCleM
Long

Close out 2015 in Crude

NYMEX:CL1!   Light Crude Oil Futures
EW count and analysis for CL1!             crude oil             . Notes embedded

I will be buying at around $48/bbl and looking to take profit around $66 with a possible extension toward low $70's. Place stops at the (b) wave low around $42.


Weekly CL1
Thx for sharing ..this is my opinion
Several ways to reach the TP1 @ 45$
snapshot
Reply
I dont agree with u
1-this divergence is not bulish . because we must have lower low(down trend) at the chart and higher high(up trend) at the indicator to be bulish divergence !
2-the price is below the inner trend and after breakout of correction trend yesterday.. we are waiting to breakout of cosolidation to short . if it goes up to 4H trend that will be 52.00 only .
the best thing to do is wait until price breakout of consolidation and sell .


Reply
RyNinDaCleM MohammedSolaiman
1- This is called Hidden Bullish divergence. It occurs when selling is strong, but support is stronger. Making lower lows on EWO when the price does not make the lower low.
2- A chart would help :)
+1 Reply
smlink111 PRO RyNinDaCleM
Did you go long?
Reply
RyNinDaCleM smlink111
I did begin taking my position, however, the structure suggests that $45 may be in the cards so I am doing more of a taper-in. As the price drops, I will pick up larger chunks.

Divergences are getting stronger and price action getting weaker. This can't last as it is going now.
snapshot
+1 Reply
aibek RyNinDaCleM
Hi man! Agree with an idea and larger count but inner waves are corrective 4ths overlap 1sts so can't be impulses.
https://www.tradingview.com/chart/USOIL/aHVyFukP-USOIL-Ending-diagonal-C-down-still-in-progress-Keep-patience/#tc209917
wait for 46.40-47 to see if reversal appear.
The only one who has mentioned the time spent in wave 2 its 5 months and we spent 5 months in wave 4 already which should be more complex than simple 2 so it will take more time to complete it on the way up of large C of 4
Reply
I agree with the ending diagonal. That is what it's currently looking like. That or we are in nested waves to hell :P
Other than that, I don't see this overlap you speak of.

One other thing, your linked chart has an abc for C? C is always 5 waves whether it's an impulse or a diagonal.
Reply
smlink111 PRO RyNinDaCleM
Interesting development regarding your prediction. Price turned around at your 76.4 fib and oil stocks have rallied today. Still need confirmation, but I am thinking of beginning to take a dabble as I like oil at this level. I think if the 42 low holds right now, then it will indicate a bottom has formed. Good charting.
Reply
RyNinDaCleM smlink111
It seems to have some good support here around $46. I have increased my position here and will do so further if it gets to 45.
Thanks for looking and don't forget to like it :)
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out