zhipengcfel
Long

Trading setup for USOIL (2016-08-04)

NYMEX:CL1!   Light Crude Oil Futures
673 14 16
Long at 40.8 with
SL: 40.52
TP: 42.52
Trade active
Trade closed: stop reached
Trade active
Comment: Finally it is up. Pay attention to the next target 41.83 and then 42.52.
Comment: Nice rally! 41.83 is touched. I will add more positions when it retraces.
Comment:
Elliott wave analysis on usoil (2016-08-07)
Comment: Nice rally! It is coming to our target soon!
Trade closed: target reached: Half of the position was closed. The remaining position I moved the SL to 41.9.
Comment: I will pocket all of the profit at 42.87~42.92.
Trade closed: target reached: All of positions were closed!
Is it E (5) (C) as ((A)) ? then we go up As ((B))? or is is it the Total ABC ?
+1 Reply
zhipengcfel Cruddest
Both are possible!
Reply
me too;)
+1 Reply
Great! Nice rally!
Reply
Thanks for your post! That's one interesting ED you draw there.
Good trading to you.
+1 Reply
Thanks!
Reply
how far down do you think it will dip for the retrace/add?
+1 Reply
I will add more when it comes to 41.4~41.5 zone.
Reply
great post as always! There is a pivot/swap zone from 41.86 to 43.24; definitely with a stop also at 42.5 Strong pivot over the past two years. I think we'll see all three targets hit; possibly a couple of swings. Good trading to you!
+1 Reply
smitheric1970 PRO smitheric1970
Once we are back in this swap zone, it is fair game again; and I am in the bull camp. I believe we will try to test 54 before we head back down to the lows next year.
snapshot
+1 Reply
zhipengcfel smitheric1970
Agree! Thanks for sharing.
Reply
zhipengcfel smitheric1970
Thanks. Agree! If 41.86 breaks, we will see 42.5 and 43.24 soon.
Reply
nice work !red line is important
+1 Reply
Yes. I just booked all of profit to see whether it can break the bearish trend line and decide the next trade setup.
Reply
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