WallStScalper
Long

"Caught up" in MA's rhythm .. Dancing shoes off the shelves!!!

AMEX:UWTI   VELOCITYSHARES 3X LONG CRUDE ETN LINKED TO THE S&P GSCI CRUDE OIL INDEX EXCESS R
202 6 2
For me...a lesson was learned today ... Have to do the TA on the security instead of the derivative. Oil             looks ok see USOIL             chart below:

--------------------------
Futures are decisively lower after close of market than the lower trendline drawn in.

So last chance for the E wave count would be to attach the lower trend line to the B-leg wick that gives a tolerance for a drop to the 3.20. See chart below

It would take a "good" API report to bring it up closing the gap..... and go further!!!

----------------------------------------
Written yesterday before close
----------------------------------------
Seems like E is done today and wave C up can begin.

Due to the negative sentiment....
we could see a gap up tomorrow.
That would spark the short squeeze needed to get oil             up to target.... wave 4 of lower degree.

Low risk entry with a stop at 3.32

Safe trading ladies and gents

@BLawrenceM

Music at work:
https://www.youtube.com/watch?v=mSpgwN5msvE
http://open.spotify.com/track/2fbnWimjwW08r6RIsANmIq

NB The white B is missing at the top of 4.13 (see chart underneath)
Wall St Scalper
very nice. tx
+1 Reply
WallStScalper PRO webmiztriz
2 years ago
You are welcome :)
Reply
A pure EW chart setup
snapshot
Reply
Furtures decicivly lower Updated chart
snapshot
Reply
USOIL
snapshot
Reply
Bowtie about to happen ... a little push up and ... :)
snapshot
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out