The 1st daily cycle lasted for 36 . So I think we are going to print 3 daily cycles in this first stage of the 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 . If that happens I might exit at market close.
looks perfect. 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...
Even the bigger dips will be bought.
The shorts and their stops will pull us higher and higher.
We took out yesterday's daily high.
IT'S A HIGHER HIGH again.
Password : green candle
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.
It's hard to tell is it good to enter now or not. Most of us who were reading me since March are already in a position for weeks.
If you enter now we might run to 50$ or have a drawdawn before we start to rally.
The energy trade what I posted a few weeks ago is in big gains so we will survive even a 3-4$ drop.
My suggestion is if you enter now don't go all in. have some capital for adding if we have a pullback.
This really does look like an Elliott wave, I looked into fractals into the smaller time frames and it looks like we are on wave 3 of the elliot on the Daily and the intra day (4 hour) as well. Both waves are bullish in this case which matches the market sentiment.
But it looks like we are headed for a dip before we get to the top of wave 3 daily cycle (when the intra day fractal enters wave 4). In your experience, is it even worth it to take profits and re-enter on the pullback?