tntsunrise
Short

USOIL NEXT TARGET IS 43.55

FX:USOIL   Crude Oil (WTI)
5846 60 109
10 months ago
USOIL             NEXT TARGET
43.55
Today oil             breaks the previous high of
42.40

So the next level i am going to watch
will be the 200% ext : 43.55
Watch for the price action at this level.
10 months ago
Comment: 43.55 HIT NOW WATCH FOR THE PRICE ACTION
10 months ago
Trade active:
snapshot

43.55 broken and retested.
10 months ago
Comment:
snapshot

break trend line
9 months ago
Comment:
snapshot
9 months ago
Comment: Entered at 43.83 now is 12.56
+130 pips
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ender.genom
10 months ago
Let sell from here. Speculation will end soon)
Reply
Room722 ender.genom
10 months ago
Not so soon) Watch 47.20, good luck!
+1 Reply
ender.genom Room722
10 months ago
OK) Thanks for opinion. I will analize once more
Reply
Room722 ender.genom
10 months ago
Sorry, the price action has changed, and now my opinion is to sell any upside correction till at least 40$ (38.2 % Fibo).
Reply
ender.genom Room722
10 months ago
Good actions today. hanks for opinion anyway. Cruid oil will see next week) I`m in play buy USDCAD. Open orders
GBP Sell 88 points
NZD Sell 90 points
XAU Sell 1600 points (hard decision to hold)
CAD Buy 128 points
Reply
vikuvarshu
10 months ago
Given the current situation. This may go high and not anywhere dowm. Expecting MMe to get out and then it will drop.
+2 Reply
olepederk PRO vikuvarshu
10 months ago
I would also advice against trading on this idea. Take a look yourselves at the weekly MACD and see the bullish divergence if you draw a line on it from the 2015 bottom past the 2016 bottom. Meanwhile the price action went hard down. I would also add. the fact that weekly MACD is just about to cross 0, which could get ugly for bears. I was very Bear until 2 days ago when price suddenly broke up through 200EMA, which it hasnt done since July 2014.
Reply
xiiimik
10 months ago
You are staying consistently bearish on oil. I am curious about why you think so. Is it based on fundamentals?
Thanks
Reply
ender.genom xiiimik
10 months ago
Doha fly away. stoppage in Kuwait ends. What else can stop encreasing oil? after us storage news what help it grow?)
+1 Reply
mshuaibi PRO ender.genom
10 months ago
Its called squeezing the shorts out
+1 Reply
ender.genom mshuaibi
10 months ago
Mexico plant on fire... that wonder week
Reply
fortuneteller PRO ender.genom
10 months ago
Crude is like gold and silver, it Doesn't work on Demand And Supply. been saying it for last 3 months, its going towards $60
Reply
therami fortuneteller
10 months ago
What does it work on if not supply and demand?
Reply
fortuneteller PRO therami
10 months ago
only on politics
Reply
vikuvarshu
10 months ago
Still unclear on the basis for your short position on this. I may be wrong. Overall trend the last few weeks had been very bullish on oil and just wanted to understand the thesis for your shorg position
Reply
tntsunrise TOP vikuvarshu
10 months ago
think this : when oil is at 26.60, weekly trend is bearish, but i entered long. why the bearish trend did not continue?
Reply
Kanwar1997
10 months ago
Jack, have you entered short? its at 44 now
+1 Reply
tntsunrise TOP Kanwar1997
10 months ago
not yet. i need see price close below 43.55
Reply
Kanwar1997 tntsunrise
10 months ago
thanks bro
Reply
mshuaibi PRO
10 months ago
He said watch the price action and 44 is a wee bit out from 43.55
Reply
LaoYoutiao
10 months ago
Jack of all trades. LOL .
Reply
hir0406
10 months ago
He never told to short crude. He just posted an idea watch price action and if that shows some kind of reversal then only wait for his tgt.
Reply
KholleKhokk PRO
10 months ago
Shorted at 44.1, same targets down there.
Reply
thulasi
10 months ago
Jack
isn't the new June contract price already 44.24 ?
Reply
Chartistry PRO
10 months ago
Very nice.
Reply
bunah2
10 months ago
Hi Jack,

Cl is @ June Contract. Price @ 43.86. What do you think?
Reply
ramryagalla
10 months ago
superb jack
Reply
Krasen
10 months ago
Watching )))
Reply
PhamPhan
10 months ago
Hi Jack . Oil breaks the previous high of 43.55. Are you going to watch will be the 261.8% ext : 48.96?
Reply
Krasen
10 months ago
Watch also AUDUSD
Reply
kizly
10 months ago
very risky to short oil till mid/end May. Small and clear SL must be used. It could go up even till end July. With few smaller corrections.
Reply
tntsunrise TOP kizly
10 months ago
A trade plan is not valued by risky or not. the risk is controlled by the lot size and stop distance.
+1 Reply
sal
10 months ago
Will you consider to short if closed below 43.91?
Reply
tntsunrise TOP sal
10 months ago
I need to see price close below 43.55
Reply
uperth tntsunrise
10 months ago
Oil moves higher, what would be the next target. When you say need price to close, do you mean daily chart?
Reply
uperth tntsunrise
10 months ago
OK we are at 44.34 now,... how much higher can it go?
Reply
pler604 PRO
10 months ago
snapshot


UKOIL hit a 0.382 of long term channel. In 2015 it was a major support throughout whole year. Now it could be a reversal point current 3month upward trend.
Does it make sense Jack?
Reply
ChimbOt PRO pler604
10 months ago
How can angle this ?, pm me thi chart please, good work :D
Reply
PhamPhan
10 months ago
Hi Jack.
if you to see price close over 43.55. Have you entered short?
Reply
EXCAVO TOP
10 months ago
https://www.tradingview.com/u/TRADE12.COM/#published-charts
Reply
EXCAVO TOP
10 months ago
Crude oil
Reply
tntsunrise TOP EXCAVO
10 months ago
your length of wave 3 seems to be wrong
Reply
fmahmud9001 tntsunrise
10 months ago
what do you think about this wave?

snapshot
Reply
tntsunrise TOP fmahmud9001
10 months ago
this one is good
Reply
sal
10 months ago
Thanks did you set SL ?
Reply
tntsunrise TOP sal
10 months ago
above the high
Reply
sal tntsunrise
10 months ago
thank you
Reply
sha2labaz
10 months ago
i can sell now ?
Reply
JZA80
10 months ago
Seems like it doesn't want to break down. Uptrend still in tact.
Reply
Trendhopper
10 months ago
This is a wave 3, wave 3 can't be shortest and is nearly always longer than wave 1, so this won't stop rising till its in the 50's....
Reply
tntsunrise TOP Trendhopper
10 months ago
correct. wave 3 has such condition to meet. but your logic got problem. After you see an enitre 5 wave, then you can identify which one is wave 3 by using such requirement. but you can't just assume it is wave 3 first , then conlude that it will go 50. that all depends whether it is wave 3 or not.
Reply
Trendhopper tntsunrise
10 months ago
You have more experience so thank you for the tips, as traders we are playing the probability game, I see its probably a wave 3, as such I think its too risky to short against the trend, we saw how quickly price moved from 27 dollars to 41, looks at the moment to be a bull flag. I Try and trade 3rd waves and 5 waves only (if i can keep disciplined), as these are are lowest risk , particularly 5th waves.., where 3rd waves as you rightly pointed out are sometimes false dawns.
Reply
tntsunrise TOP Trendhopper
9 months ago
for wave3 ,the entry should be break out of wave 1 peak. wave 5 i won't trade,
Reply
Trendhopper tntsunrise
9 months ago
Thanks for tips, I traded an oil share from breakout of wave 1 in to wave 3, why won't you trade the 5th wave, this is usually more predictable than a 3rd wave, isn't it?
Reply
PhamPhan
9 months ago
Hi Jack . wave Elliott. I'm worried if it occurs.
snapshot
Reply
tntsunrise TOP PhamPhan
9 months ago
dun worry, sl 44.60, if breaks new high ,we exit
Reply
PhamPhan tntsunrise
9 months ago
Thank you very much.
Reply
Kanwar1997
9 months ago
whats your say on this Jack, it broke 44. you think it will drop?
Reply
franciskim
9 months ago
Oil Rejected @ Fib 2.618
Reply
franciskim franciskim
9 months ago
What do you think Jack?
Reply
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