Watch the moving averages and cloud levels here, as well as areas for price consolidation. It's a bit prettier than BTCUSD, isn't it?
With the prices of OIL_CRUDE moving back up again, it's hard to tell whether BTCUSD is performing well against it, until you use a chart like this.
Type:
BTCUSD:BITSTAMP/OIL_CRUDE
in your bar to find this!
It's hard to see where we're going from this exact moment, but this should be a handy chart to look at in general. Just as BTC/NASDAQ was super informative and telling to look at.
if below trend break oil can see 15$-20$ so be carefull from buy
for find target use this drawing tool =trend FIBO EXTENTION 61-100-161% (it draw on last N shape)
never open reverse pos on it alone , you need 2nd signal like EMA200 or support near it ,then you can put sellimit on it
in ninjatrader =fibo projection,,,,, in metatrader you must load it to...
Crude oil has been in a massive ascending wedge with UCO currently on its way to around $33. Its a nice little play at the moment, but on hitting that upper resistance and perhaps melting up we might see a catastrophic fall (probably around the same time people clue in to the fact that our economies are all screwed and no one is spending money anymore, or OPEC+...
Crude Oil WTI daily time frame.
Looks to be in the process of a 3rd Elltiot
wave.
Stoch Rsi shows selling pressure and
DMI a strong bearish trend. Price also broke
through the 72 EMA. 3rd wave should beat
the low of wave 1. Meaning WTI might break 47.80.
Crude Oil WTI is a strong sell.
