currently see a 4th wave sell down to the 5th wave. We're building a base. Off of the 5th wave, I'm looking for a C wave buy from the abcd pattern. All this sets up a daily cup/handle pattern that will need to breakout to retest all time highs retest all time highs. Chart also coincides w/ the sp500 futures chart set to retest all time highs after the...
Commodities are rallying today as the Dollar index loses value and right on cue, oil has hit my target at $43 (the 50 week EMA) and could pullback soon. I've closed my positions for a $1,237.50 gain (entry/exit linked below) and am looking to buy dips moving forward. I believe oil is heading higher by the end of the year and the fib extensions should help map...
very bullish when/if previous resistances establish itself as support
details on chart retest back to the supply zone
scaled into 1/4 position on oil, will add on next leg of $42 for risk purposes
weakness of an uptrend. waiting for a divergence in RSI before taking any short trade.
Context : Weekly, Daily and Intraday Trends up. Strong Break above 200MA, Trendline. Buy on retracement back to DiNapoli Support at : S1 - 59.375 S2 - 58.500
long from $56.26 scalp, stop loss $55.82 target $58
Updated opinion on the intermediate wave structure. Feel free to leave comments, questions or suggestions!
I'm looking for a retrace off of a recent rally. Trade safe.