OIL - The 3 daily cycles

FX:USOIL   CFDs on Crude Oil (WTI)
3093 23 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 :
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.
(1 ) 47.50 (2 ) 43.5 ( 3 ) 45 (4 ) 38 ( 5) 42 ( 6) 34 ( 7) 37 ( 8) 25

I think this course of prices in the near future
Thank u very much
Hey Chartwatcher!!! Many thanks for teaching me about cycles and combining this with chart patterns!! Im very happily riding this 3rd wave on oil because of you.. I feel I owe you some payback so thought you might like to see a similar idea going on right now with Copper...another wave 3 looks to be forming!!!!!........ 
Thank you for your great insight into the market. I've been studying your charts a lot.

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?
Good to see some strong EW analysis. I have spoken to a number of traders in the last couple of months who all dismiss it as not worth bothering with, which tells me that it probably is worth paying attention to. I'm long Oil looking for at least $50 but holding out for $60 (with fingers and toes crossed)
time to short I see weakness will see what happens tomorrow here are my thoughts
Swing_Trader Swing_Trader
nagative divergence in MacD
chartwatchers Swing_Trader
And RSI overbought. But it's doesn't matter. Its a junior bull market's first stage. If you short your account can be reseted.
+1 Reply
This is fun thanks C.W. can u tell me who will win the EURO16
+1 Reply
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out