Update to several recent ideas: Looks promising for wave 5 now, bounced around 0.382 fib for 4 days and has now moved upwards. Has stopped at 0.382 of the complete ABC around the mid 61 area which is a common point for wave 1 to complete, may see a correction soon before wave 3 of wave 5.
Potentially another wave down to 5650 area to come as it looks like just completed an ABC for wave 4, wave 5 1.618 is 5640.
Intraday idea that could be forming part of a larger move upward. Potentially in wave 4 (to 0.382 of wave 3) around $60,00 with wave 5 1.618 or 2.618 of wave 4 to $61,30 or $62,09 Invalidation point is wave 4 crossing wave 1 at $59,70...crossing that point would mean more bearish move down in my opinion and would indicate a possible ABC correction completed to...
Update to this idea > Could the correction be over? Price bounced right at the median line of the pink Andrews pitchfork shown in the chart and approximately 0.382 of wave 3. If you draw a channel (shown in yellow) using waves 1, 2 and 4 as reference points (wave 3 popped out of the channel which is not uncommon when using Elliot Wave and channels) and 1.618 of...
Update to this 1D chart > Possibly ABC correction completed to .236 of wave 3 (4560-6666). If this is the completion of wave 4 it is sharp compared to the wave 2 we had from 5040 to 4570 which is as per Elliot Wave theory. Appears to be completed as per this idea on smaller timeframe > 1.618 of A wave reached for completion of C. I bought at 6150. If low of...
if Brent can"t supported from here,it go to the next support on 64.80
Still trying to pick a top :) Slightly different internal count for wave 5 of wave 3 pushing up to 6666 (0.5 fib $107/$26).
Brent has reached the 1.618 fibo extension from lows in Oct 2017 to highs in Nov 2017, after retracing back to the 0.618 fibo. Next move should take price to the new fibo, matching the mid term bullish trendline. 67 usd/bbl during next week, prior to bouncing back and go to 76.8 usd/bbl level in the coming months.
Brent crude oil is testing major support at 68.50 (Fibonacci retracement, horizontal overlap support) and a break of this level could potentially drive price all the way down to 65.96 (Fibonacci retracement, horizontal overlap support). It is important to keep an eye out on our long term ascending support line too which could serve as potential intermediate...
An update to previous ideas which became invalid with wave 4 crossing wave 1 (6500 was invalidation point). Possibly an ABC now with C reaching 1.618 of A wave. A note to the naysayers...If I am wrong I won't stop posting ideas and theories (as someone claimed on a comment on a previous idea). Imagine if everyone on Trading View simply stopped sharing ideas if...
Alternate count as the previous one is now invalid (wave 4 crossed wave 1)
Another possibility to previous idea. Maybe not quite done with wave yet, 6343 or 6320 before up for wave 4.
I think the top is in and this is possibly either wave A of ABC or wave 1 of a larger A. Possibly climb to .236 or .382 today before the next leg down.
technically i think the highest in 2018 is 82$ then 50$
Short Brent under 70.65 $/bbl for a long term trade (sell and hold) SL @ 71.35 TP @ 61.10 I have little time to explain all the ideas behind that trade, but will make a big analysis in few hours about the idea and the numbers in trade. It will include fibonacci, EURUSD, the coming ECB meeting today and much more there. Good luck! I am in as soon we go under...