zhipengcfel
Long

Elliott wave analysis on usoil (2016-07-30)

NYMEX:CL1!   Light Crude Oil Futures
Oil             started rebounding when it came to the potential reverse zone at Friday.
Where will oil go from the view of harmonic pattern?
From elliott wave analysis, the correction wave completed likely.
Elliott wave analysis on usoil (2016-07-23)
Break out of the sharp decline channel will confirm the rebound.

Trading suggestion:
Go long when it breaks out of the decline channel with SL at 40.5
TP1: 43.19
TP2: 44.51
TP3: 45.90

No confirmation, no trading!

Good luck for everyone!
Trade active
Comment: Be careful! it might be a false break. I set a tight Stop Loss at 40.5!
Trade closed: stop reached: Oil is still very bearish. I shorted it again. I am looking forward it going to bottom of the weekly decline channel.
snapshot
Trade active: https://www.tradingview.com/chart/jHqp4dh0/
Comment:
snapshot
Comment: Nice rally!
Trading setup for USOIL (2016-08-04)
sir ur analysis vvvv accurate i m learning from u n keep posting i m always watch ur charts....thanks
+1 Reply
zhipengcfel niteshkumar
Thanks for your support. I am really glad if it is helpful!
Reply
sir please post regularly on us oil and natuaral gas also because your analysis is more or less 100% accurate . Please help novice trader by learning through your charts
+1 Reply
zhipengcfel prasanro
Thanks for your comment. My broker does not has natural gas so I did not investigate it before. I might have a look afterwards.
Reply
Mr - personal thank you for the thorough analysis! Great work, just signed to follow your posts - believe this is what I looked for. Definitely helps to understand the market direction! As they say in Ukraine - be healthy and wealthy ))
+1 Reply
zhipengcfel r_rudnitsky
Thanks for the wishes (healthy and wealthy). The same to you! I am glad if they are helpful!
Reply
sir natural gas available on forex.com demo mt4 terminal so you can download and natuaral available under CFD INDEX

+1 Reply
zhipengcfel prasanro
Thanks. I am using a different broker currently which is also very good.
Reply
I AM NOT ASKING YOUR CHANGE BROKER JUST WANT TO SAY FOR NG ANALYSIS TO GIVE OPPERTUNITY LESSION TO NOVICE TRADER LIKE ME SIR
+1 Reply
zhipengcfel prasanro
Thanks. I got it. I will update ideas on natural gas from next week.
Reply
THANKS SIR
+1 Reply
Price action in oil kinda bobbing and weaving all over the place and seeing things in limbo, eh?
+1 Reply
Yes. It is very choppy. But trade as what you have planed!
Reply
sir what is the current price on weekly decline channel
+1 Reply
zhipengcfel prasanro
It can drop down to 38.2 -> 36.3 -> 34.3.
Reply
sir what will be sl and tgt sir for long position and your wave count rectified my wave count and you are right sir for ending diagonal on 5 th of 5th is perfect identification. sir you are a great teacher pl do post regularly for learning to novice trader like me
+1 Reply
zhipengcfel prasanro
I set SL at 40.5 still. TP1: 41.8, TP2: 43.19, TP3: 44.51.
Reply
sir please teach me i have seen that main 4 th wave in main c wave is trade in wave 1 territorry .so is that valid count but it is 100% valid count because mkt react accoringly. SO WHAT IS THE THEORY BEHIND THIS SIR
+1 Reply
zhipengcfel prasanro
Ending diagonal allows wave 4 reach into the bottom of wave 1.
Reply
thanks sir your quick response. sir i am asking on 4 th wave at traingle area i.e. 44 --46 zone sir
+1 Reply
zhipengcfel prasanro
Thanks for the question. Wave 4 go into wave 1 area is forbidden for stock market , but for futures it is a little different.
Reply
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