tst
Short

potential short sell on high time frame

FX:USOIL   Crude Oil (WTI)
353 11 17
8 months ago
Watching Head and shoulder pattern at the end of a 5 wave count in a possible diagonal. entry on break of C 47.7.
8 months ago
Comment: Structure change, I have removed my pending order from market.
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8 months ago
Comment: diagonal still valid, wave 5 is an extended wave which means price should correct another 6% to 45 which is the bottom of wave 2 in the extended wave. I will be looking for short entries on low time frame next week and may reactivate higher time frame trade.
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8 months ago
Comment: New market order placed.... Selling 1 position on break of low.
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8 months ago
Comment: trade active.
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8 months ago
Comment:
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8 months ago
Comment: RISK OFF
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8 months ago
Comment: Profit taken, trade closed.
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LegendSum
8 months ago
according to brent and dxy .personal experience i d like to
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tst LegendSum
8 months ago
cool.
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robus
8 months ago
umm. I am long 47.65. my target is 55 and I have no TA to support that claim.
your charts are very clean. Thanks
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tst robus
8 months ago
Thanks, Post your chart when you have time if you like. Im going to revaluate structure and update later.
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benchch
8 months ago
Hey. Your post 9 days ago: "Wave 5 is an extended wave which means price should correct another 6% to 45 which is the bottom of wave 2" Is there a rule for a 6% retracement somewhere or is it just because it coincides with the bottom of wave 2 in this instance? Also where did you read that rule? Thanks
+1 Reply
tst benchch
8 months ago
yeah there is a guideline rule that price retraces aggressively to the bottom of wave 2, at least that is what I have read, ill dig it up and post the quote when I find it again. currently studying from a few EW books.
+1 Reply
tst benchch
8 months ago
Book is "Visual guide to ellott wave trading, by Wayne Gorman and Jeffrey kennedy '' Quote page 232 " After a fifth-wave extension terminates, expect a swift and sharp reversal back to the second subwave of the extension."
+1 Reply
benchch tst
8 months ago
Thanks for the reply
+1 Reply
benchch
8 months ago
Hi please check out my count
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benchch benchch
8 months ago
Elliott Wave count US OIL in correction
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tst benchch
8 months ago
Looks ok to me, but I must stress that im not experienced EW yet. Theory is to always try to find as many possible counts then eliminate as price develops. Good work thanks for sharing and all the best. :)
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