hthieuvn

STILL WAITING TO CONFIRM THE ELLIOT WAVE IN UKOIL

FX:UKOIL   Crude Oil (Brent)
241 5 5
STILL WAITING TO CONFIRM THE ELLIOT WAVE IN UKOIL            
hello, I have a question about your analysis. Why did you not consider the candle of 03/08 as the end of wave 3 and the candle 03/15 the end of wave 4 ? I'm grateful for aid. I would also like to know if you are using a software for automatic calculation of the waves?
I thank you for the help.
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hthieuvn rosario68
Hello rosario68, thanks for your question. I actually don't use any of software for automatic calculation of the waves (I wish I could have for double check). So this is really just based on my view. I passed these two candles (03/08 and 03/15 as the end of wave 3 and wave 4 respectively) to go through the higher high candle 03/22 as the peak/the end of wave 3 so therefore wave 4 and potential wave 5 are more reasonable. I also based on the support/resistance areas and especially based on the Fibonacci ratios. Actually I'm still waiting to see whether I'm right or wrong in my own point of view. Hope that my answer could satisfy your question.
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hthieuvn hthieuvn
Besides, I think the candle 03/15 is not deep enough to create wave 4.
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very nice!!!
Reply
hthieuvn Swing_Trader
Thank you for your kind comment.
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