Wave-Trader
Short

UKOIL is playing well.....

FX:UKOIL   Crude Oil (Brent)
3302 27 94
2 months ago
Hi fellows. i am looking for sell around 58. we can see price getting rejection from upper trend line and showing some nice price action. In case price break up then i will look for change in structure. Good Luck.
2 months ago
Comment: Hi fellows, we can see impulse formed on lower time frame and i am expecting trend continuation pattern or pullback if i will see trend continuation pattern then i will update the idea that is the reason i am looking to sell around 58 good luck fellows.
2 months ago
Comment: Hi fellows, we can see price climbing up again and testing the area which i was expecting. In case price break up then i will look for change in structure and pattern. If price violate the previous impulse then i will watch for another impulse before placing trade here is the update.
snapshot
2 months ago
Comment: Flag broken down i am expecting continuation to the downside. If pattern change itself i will update about that goof luck fellows.
2 months ago
Comment: If you are in to this trade then move on break even and ride this risk free trade for downside. Move up in the channel is possible so safe your trade by moving on break even.
2 months ago
Comment: Here is the update fellows.
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2 months ago
Comment: inner channel broken down i will watch for trend continuation pattern for further sell good luck fellows.....
2 months ago
Comment: Here is the update fellows....
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a month ago
Comment: Oil testing top again watch for sell at top again...
a month ago
Comment: Oil is on move Good Luck fellows.. expecting continuation....................
17 days ago
Comment: Here we got he move in OIL trend continuation pattern has extended itself and forming flat channel watch for buy at lower trend line based on price action breakdown is possible so pay attention as we are looking for downside and if do not breakdown then we will look for sell once price hit the top again here is the update fellows.......!!!!!!!!!
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16 days ago
Comment: Upside has just begun Good luck fellows..............!!!!!!!!!!!!!!!!
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3 days ago
Comment: Here we got the oil at sell place again...............!!!!!!!!!!!!!!!!!!!!!!!
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hao.deng.m
2 months ago
Brilliant!
+1 Reply
Wave-Trader PRO hao.deng.m
2 months ago
@hao.deng.m, thanks mate.
Reply
SATEF
2 months ago
hello , you mean that you are waiting for bull back till 58 or near by ?
Reply
Wave-Trader PRO SATEF
2 months ago
@SATEF, i am waiting for trend continuation pattern we can see impulse is over there on lower time frame if i will see that i will update the idea.
Reply
SATEF Wave-Trader
2 months ago
@Wave-Trader, thanks a lot and keep sharing ur ideas
Reply
lynersen PRO
2 months ago
Good work.
I agree with you - that we should see a bearish move on this. But looking at the lower time frames, we had a huge bearish impulse and are right now seeing correction from that. I would expect the next impulse to be bearish as well and start the big short. Do you see something else - since you expect it to reverse to 58?
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Wave-Trader PRO lynersen
2 months ago
@lynersen, I am expecting pullback upto at least 57 ot 56
Reply
lynersen PRO Wave-Trader
2 months ago
@Wave-Trader, Thanks mate. Can you explain - why you expect that? from "what" do you see this pullback? I am not trying to be annoying or mistrustfull or anything - I just cannot see it, so this makes me more curious :)
Reply
Wave-Trader PRO lynersen
2 months ago
@lynersen, if you use any indicator then look at them are they saying to you continuation to the downside and if so then price should not pullback and if they are showing that there is no move to the downside then of course there is pullback before continuation to the downside mate i hope you got my point.
Reply
lynersen PRO Wave-Trader
2 months ago
@Wave-Trader, Thanks for quick reply. I get your point - and that is exactly why I was so courious. Maybe I misread the indicators - but I see it as more likely to be 1 more bearish impulse from the lower time frame indicators. I have still a lot to learn - so thanks for your input and help!
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Wave-Trader PRO lynersen
2 months ago
@lynersen, My pleasures mate and all the best ya..
Reply
trader3422n lynersen
2 months ago
For your inconvenience;

Watch oil collapse within a couple of years
Reply
Wave-Trader PRO trader3422n
2 months ago
@trader3422n, thanks mate for sharing. Dont you see your 5th wave is ending in nagitive price. Do you think OIL price will go below $1. Are you okey.
Reply
trader3422n Wave-Trader
2 months ago
@Wave-Trader, haha thanks you're correct, of course. Didn't really pay much attention to the actual price when drawing on that chart...Anyway given the fact that we are struggeling to keep above the monthly (orange) trendline, -technically speaking, one has to wonder where oil is heading. There is a lot of resistance around 57-60, and I do not think we will break above. Perhaps in the longer run oil will be fading out for good:s
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Wave-Trader PRO trader3422n
2 months ago
@trader3422n, hahaha. Good Luck mate i am agree with your thoughts.
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lynersen PRO Wave-Trader
2 months ago
@Wave-Trader, You got it more than right. Well done mate!
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Wave-Trader PRO lynersen
2 months ago
@lynersen, Cheers.
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Not sure if oil will reverse while S&P is setting new highs.... I´m saying because S&P is far away from its targets and needs the energy sector to keep posting new ATH. We are considering a 20% decline here
Reply
Wave-Trader PRO captain_smollett
2 months ago
@captain_smollett, Fundamentals has nothing to do with my idea mate. i have 0 knowledge about fundamentals. I am technical trader mate.
Reply
trader3422n captain_smollett
2 months ago
@captain_smollett, S&P and oil correlates day to day randomly and correlates the best with fear(look at VIX)...but only to a certain point. Look at the bigger picture to see which direction any instruments really are heading.
+1 Reply
captain_smollett PRO trader3422n
2 months ago
@trader3422n, VIX is not an indicator now to be honest, it is at the minimums and can be 8 today, 13 tomorrow and 8 another day again. Daily volatility increased as, I believe, many people have played off VIX and it was going up and down to to the options volumes.

In my opinion, the only moreless secure indicator nowadays is the US Dollar Index.

But my comment was related more to a movement vector rather than a point correlation: if oil goes down 20% in a certain period, S&P would do the same, surely on a lower amount. I can see oil down when S&P hits 2290-2300 but not earlier
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trader3422n captain_smollett
2 months ago
@captain_smollett, VIX is an instrument of course, not an actual indicator, but given the definition of a general indicator, VIX is a good and well known fear gauge/indicator. You can not draw any trendlines or whatever on the VIX instrument of course not. I do hope you still agree that in any trend....and in most trends, the momentum fades out, we most often see a wedge/ ending diagonal forming...and we know most likely the steam is running out..that is when you start looking at the price of gold (xauusd) and the vix for more proof of fear.

Given oil and sp500's correlation, (I''ve placed over 200 trades in the daily timeframes on those instruments in 2016, so they are two of my favorites). I do in the longer run we are heading for lower oil prices....The S&P500 will take some of the dips when oils starts declining below key levels...then the fear will fade away and the S&P will as allways keep on climbing. S&P 500 is probably one of the most safe investments one can make for long time investing, read "common sense investing" by Bogle if you're interested for why:)
+1 Reply
Rebell05
2 months ago
awesome
Reply
Rebell05
2 months ago
i can't trade ukoil with my broker(
Reply
nbn007 PRO
a month ago
bro why you not showing the oil in your videos.
Reply
nbn007 PRO
a month ago
that does not look good..
Reply
watsonzou26
16 days ago
Great trading plan!
Reply
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