Get started
zhipengcfel

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

Long
Light Crude Oil Futures (NYMEX:CL1!)  
zhipengcfel Updated   
NYMEX:CL1!   Light Crude Oil Futures
Crude Oil WTI Elliott Wave analysis Parallel Channel
15
21
usoil elliottwaves analysis parallelchannel
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
Comment:

Related Ideas

zhipengcfel
Trading setup for usoil (2016-08-09)
zhipengcfel
Elliott wave analysis on usoil (2016-08-07)
zhipengcfel
Trading setup for USOIL (2016-08-04)
zhipengcfel
Support and resistance levels for usoil (2016-07-31)
zhipengcfel
Where will oil go from the view of harmonic pattern?
zhipengcfel
Elliott wave analysis on usoil (2016-07-23)
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.