Expect last wave E inside of triangle wave (B) to fall down to 43.00-43.50 area. Then it will be strong wave up in (C) of ABC to finish wave 4. Target for wave 4 is in range of 50-100% of wave A. (49.18-54.96) Then down in large impulse wave 5 (will be recalculated once wave 4 is done) Lucky trades friends!
My fellow bears and superbears, the time has come to short WTI crude oil and capitulate all the bulls. The last Fib extension cycle points to a drop to at least $42, and if the bearish momentum maintained, we could see 37.53 by the month's end. As a perma bear I hate to say this but I must warn you all that if we fail to breach the triangle within this cycle,...
Some say this week's FOMC decision will be of historical proportions and be the first time the Federal Reserve will increase the Fed funds rate in almost a decade. The U.S. dollar index is in a descending trend. Price action is floating above the minor trend created by the top on April 13. The dollar has not been able to see any significant support higher,...
We have pulled our buy orders off the table with crude. We have seen 4 straight days of up and down so we will let crude trade on Monday before accessing. However, crude is consolidating which means another move will happen soon. OPEC says prices will continue to stay low until the beginning of the year. Will they be right or will the bulls force the issue? ...
We are still watching crude for an entry long. We would like to see price re-visit the trigger zone and touch the lower flag. We are being CAUTIOUS with crude. This beast can blow through an area quickly so MAKE SURE IF YOU ARE TRADING CRUDE YOU ARE USING A TRIGGER! Define your risk and be good with it.
Last week, we saw a huge short squeeze in oil and it seems that there could bee a opportunity for Crude's bulls. The RUB lost a big part of its value due to the Global fall in commodity prices. However if we believe RUB and Crude touched the bottom, then we could try a short USDRUB, or if you think EUR is going to be smashed by Yellen on September (or October, or...
For this plan to work, the 4H candle on 9th Sept 05:00am, NY time, must close below 45.52.
Would of, should of, could of...That was another nice move off the trigger area but as we mentioned before it wasn't deep enough into our zone. Now crude was rejected at the upper flag so we expect price to fall into the range and hopefully test the lower flag in our zone. Patience is needed! It's on our watch list.
Crude is experiencing some incredible moves which may be a sign a bottom is near. When bottoms form there is wider moves with volatility...we are watching the trigger zone for a possible long entry. We will keep a tight leash on the trade is it triggers. You never know with crude. NO TRIGGER...NO TRADE!
We saw an acceleration of buying above $47.00. It's safe to say a lot of shorts got shaken out of the market. Now we watch. We look for consolidation or a pullback to the $42 area. Will OPEC follow through with it's comments or will a rate hike send crude back down to the lows? It will be a tug of war and we are placing our bets on OPEC. We are seeking to...
The USDCAD pauses as crude gains over 20 percent from the recent lows, while having the best three-day gain in nearly 30 years. Upward momentum in crude prices will help the Canadian dollar rebound slightly, but the fundamentals still remain bearish. In all reality, $47 per barrel will not rid the bearish fundamentals within the energy space. While keeping it...
Synopsis: 1 - Price traces two interlocked Geos 2 - Smaller (BLACK) Geo completes its 5-point regimen; Aims for 1-4 Line (Wolfe Wave rule) 3 - Larger Geo is pending Point-4 & 5 in the 19.10/1844 range 4 - TWO bullish targets exceed 1-3 Line of larger Geo: a -- TG-Hi = 36.20 - 30 AUG 2015 AND b -- TG-Hix = 39.72 - 30 AUG 2015 5 - Bullish Target may align with...
After a rocket off the bottom and a nice trade, Crude needs a rest. Is the bottom in? We don't so...soon though. We feel crude could make another attempt at a bottom to shake out the weak longs. However, if crude wants more upside from here we will need to see some consolidation. Above the $47 and we could see an accelerated squeeze. Crude is on our daily...
Well...that was quick. Off the Descending triangle we were able to take advantage of a very quick move and ring the bell on a nice winner. Lessons for all: Define your trade - Wait for it to happen - manage it as defined - control emotions. We are flat and will see how the pullbacks look.
Only one Reason RSI Bullish Divergence and if we are able to close above $42 on weekly tommorow. I am a Contrarian who basis trade on Risk to reward. Now Risk seems favourable For Longs Disclaimer: Do your Due Deligence Before Investing/Trading as Views are Personal
Crude moved fast and furious so we took some off at 42.04 and pulled stops to our entry level. We weren't expecting this quick of a move so we had to adjust. That is trading...noting is static. It's a free trade and we will trail the stop until we see target #2 or get taken out.
After waiting...we are long Crude (WTI). We like the potential of this trade and are looking for a larger than normal first target. We will keep this on a tight leash. In lieu of shorter targets we will move our stops up as we gain more in the trade.
We are still waiting. As Crude continues to drop we have to move our entry down. A descending channel break to the upside should see a nice pop. No Trigger, No Trade! Be patient with this one. Crude can clean out your account quickly.