Wave-Trader

Oil Patterns Analysis

FX:UKOIL   Crude Oil (Brent)
3448 32 124
I am expecting next impulse breakdown will invalidate the idea.
Comment: Continuation expecting
Comment: Amazing:
Comment:
UKOIL buy on impulse appearance
Comment:
UKOIL is playing well.....

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
Comment:
UKOIL Watch for sell under upper trend line.
nice pattern , your edu post are vry helpfull to understand the market
+2 Reply
Your feedback is very important for me to courage and post more like this mate thanks.
+1 Reply
nick007 Wave-Trader
:)
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Wave-Trader, please, absolutely, keep doing your great deal of work educating the public
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Thanks mate
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Btw, I believe it's more of a falling wedge than a descending triangle. So the upcoming low up to $44.75-sh would not yet necessarily invalidate the pattern. Any much lower then that might, unless it ends up being a false breakdown.
+1 Reply
Please show use your take we will be very happy if you post your thoughts here mate.
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VirtualFax Wave-Trader
Well, first off, the below is the US not the UK oil. But, obviously, the label means nothing since the action is the same.

As you can see I do have a support line identical to yours so I don't completely disregard the possibility.

However:

a) there is equally strong support line for the wedge case
b) I believe the low on Sep 16th wasn't just a slippage but an indication of the wedge formation

Lastly, though likely less probable, Oil could even bounce off the black trendline.

Will highly value your feedback!

snapshot
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Amazing my friend agree with your thoughts but unfortunately we dont use resistance and support lines we use these lines for pattern formation but i am agree with your thoughts. Thanks for sharing
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Looks like the long is viable now. Good luck mate.
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Very much no hurdle is there mate.
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I'm assuming you are referring to the triangle pattern continuation, correct? Because, despite of the spike, that's what my expectation is.
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Yes i am expecting trend continuation because we have trend continuation pattern.
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Ta-Trade Wave-Trader
WT great call!....will we bust the neckline in your opinion?
+1 Reply
i hope so mate lets see
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Really awesome, I learn a lot from you, thank you for sharing those ideas
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cheers good luck
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TomPower Wave-Trader
Wow. Think I found a new guru
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Wow..that was awesome
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Great and educating work, keep it up, Thanks
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OPEC played up technical analysis ;)
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good
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I don't trade crude oil , but the only thing I can say its really amazing !
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Thanks mate.
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next stop 60s....?
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Price may stay on current price level little longer mate. Lets see what formation we have.
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nice to see how different analysis leed to same results!
Oil beginning a new rally?
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Perfect great job. Thank you
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oil is going up but cad pairs like eurcad and usdcad are also going up instead of coming down !
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amazing
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Very nice drawing imran bhai
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I am expecting oil breakup, $58?
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