chartwatchers

OIL - The 3 daily cycles

Long
FX:USOIL   CFDs on Crude Oil (WTI)
51
Today I was watching the oil chart whole day and I noticed an important thing.
The 1st daily cycle lasted for 36 candlesticks. So I think we are going to print 3 daily cycles in this first stage of the bull market before we get a big correction.

I think we are going to print this daily cycle high around the 15th of May. The daily cycle top should be between the October and November high (48.32-50.79). And maybe we break above 50.79. I will watch how fast this is happening. If I'm right I will exit at the top of this daily cycle and reenter at the 2nd daily cycle low (at the end of May). With this I will catch the 8$ between 44 and 52$ 2twice.

Th 3rd daily cycle should top at the end of June...

In this trend to the daily cycle top I don't want price to close below the 10 EMA. If that happens I might exit at market close.
MACD looks perfect. RSI can be overbought for days...

So if I'm right we will be charting hard this summer. The 3rd daily cycle will bottom in August only...
Comment:
I think this coming in the following 2 weeks. Higher high day after day with tiny pullbacks.
Even the bigger dips will be bought.

Comment:
Green candles for 3-4 days and 2-3 days flag or one big red candle which is erased on the next day.
The shorts and their stops will pull us higher and higher.
Comment:
And here comes the higher high again.
We took out yesterday's daily high.
Comment:
Shorts will hate me, but :
IT'S A HIGHER HIGH again.
Password : green candle
Comment:
This kind of oil trend will be perfect for
our oil stocks. It's not just a pop, but a strong trending move. More and more traders
will enter these stocks we are sitting in for a while.

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