Wave-Trader
Short

UKOIL is playing well.....

FX:UKOIL   Crude Oil (Brent)
3957 36 109
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.
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.
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.
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Comment: Flag broken down i am expecting continuation to the downside. If pattern change itself i will update about that goof luck fellows.
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.
Comment: Here is the update fellows.
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Comment: inner channel broken down i will watch for trend continuation pattern for further sell good luck fellows.....
Comment: Here is the update fellows....
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Comment: Oil testing top again watch for sell at top again...
Comment: Oil is on move Good Luck fellows.. expecting continuation....................
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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Comment: Upside has just begun Good luck fellows..............!!!!!!!!!!!!!!!!
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Comment: Here we got the oil at sell place again...............!!!!!!!!!!!!!!!!!!!!!!!
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Comment: Watch for flag.................!!!!!!!!!!!!!!!!!!!!!!!!!!!
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Comment:
UKOIL Watch for sell under upper trend line.
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Comment:
UKOIL is back Watch for flag on 15 minute

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Brilliant!
+1 Reply
@hao.deng.m, thanks mate.
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hello , you mean that you are waiting for bull back till 58 or near by ?
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@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.
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SATEF Wave-Trader
@Wave-Trader, thanks a lot and keep sharing ur ideas
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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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@lynersen, I am expecting pullback upto at least 57 ot 56
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lynersen PRO Wave-Trader
@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 :)
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@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.
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lynersen PRO Wave-Trader
@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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@lynersen, My pleasures mate and all the best ya..
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trader3422n lynersen
For your inconvenience;

Watch oil collapse within a couple of years
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Wave-Trader PRO trader3422n
@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.
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trader3422n Wave-Trader
@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
@trader3422n, hahaha. Good Luck mate i am agree with your thoughts.
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Libeloo24 PRO trader3422n
@trader3422n, that is an ABC Supercycle and it has ended with your 3, we are going up in the next years.
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@Libeloo24, Good Luck to you mate
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Libeloo24 PRO Wave-Trader
@Wave-Trader, was that sarcasm?
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lynersen PRO Wave-Trader
@Wave-Trader, You got it more than right. Well done mate!
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@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
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Wave-Trader PRO captain_smollett
@captain_smollett, Fundamentals has nothing to do with my idea mate. i have 0 knowledge about fundamentals. I am technical trader mate.
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trader3422n captain_smollett
@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
@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
@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
awesome
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i can't trade ukoil with my broker(
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bro why you not showing the oil in your videos.
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that does not look good..
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Great trading plan!
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I am long 52 for next target 60
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Hello my mate! Oil did break out the price you updated? What should we do next? Thank you so much from the bottom of my heart!
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@sanglee, That is not breakout mate watch the breakout after 43 minutes
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sanglee Wave-Trader
@Wave-Trader, Yeah, Thank you!
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sanglee Wave-Trader
@Wave-Trader, Now it break out, my mate
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@sanglee, Thats why said watch after 43 minutes now watch for continuation mate.
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