May be a bullish count to consider as part of this idea >
C wave could be a wave 3 and we're in the process of wave 4 now. I think that's what bulls might try to play out.
Currently holding short positions from 6222 and 6208 and planning to hold for my bearish theory to sub $60.
A zoomed in view of what I believe to be wave 2 correction as per this chart >
Please read the notes here as I couldn't post a 5 minute chart on Trading View so I put notes on my chart from Investing.com > invst.ly
Based on internal waves 6230 area could be the completion of C wave.
Friday was undoubtedly bullish but in my opinion it could be a rapid wave 2...
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Slightly zoomed out view of this chart >
5 waves down leading to 5995 had near perfect fibs; 1.618 of wave 1 for wave 3, approx. 0.618 of wave 1 for wave 2 and approx. 1.618 of wave 4 for wave 5.
Strong bearish trendline approaching which could be the turning point for Fridays rise.
A zoomed in view of what I believe to be wave 2 correction as per this chart >
Please read the notes here as I couldn't post a 5 minute chart on Trading View so I put notes on my chart from Investing.com > invst.ly
Based on internal waves 6230 area could be the completion of C wave.
Friday was undoubtedly bullish but in my opinion it could be a rapid wave 2...
Update on this idea >
I think the chances for a move up from here are slim, looks as though we are in a large correction from 6666 to 55 area.
Wave A and B have completed and what looks like wave 1 of 3 of C completed, may now have a correction for wave 2 of 3 of C before what is normally a brutal selling wave (3 of 3).
Crude Oil is doubting. How today closes is important for sentiment and movements tomorrow. We are now bouncing between $63,33 and $62,09. Both of this levels are very important Fibonacci levels which tell me we are at an level where a new trend can start. Today I have tried both sides, short and long and short is compensated and I closed that one! The long is in...
Traders have reacted to this $67 level since June 2017 and now being tested as support. Intraday it's been broken many times but look for a break below to continue lower to $64 and $62 targets.
New short entry on the hourly - $62.78
Stop $63.50
Short term target $61
Mid term target $59
Risk-Reward - 5:1 exceptional
Long term uptrend has been broken, short term down trendline remains intact before ultimate drive back up (maybe from $61 or $59 base). Daily - bullish pinbar formed, but prices have not accelerated up but rather moved up hesitantly. This is...
Head and Shoulders pattern in the making. Right shoulder has begun to form. MAVs are rolling over. Fundamentals also indicate a downward move coming. Keep your eyes on this.
Oil is still in bullish position. As long as we are not breaking 59 dollar I still believe we are in uptrend and the price can rise to 75 dollar. We have reached a critic point last week, but the week ended positive. The sentiment next Monday will decide if it will be interesting to open a long cfd! The orange line is showing which point is the position we open a...
Oil is still in bullish position. As long as we are not breaking 59 dollar I still believe we are in uptrend and the price can rise to 75 dollar. We have reached a critic point last week, but the week ended positive. The sentiment next Monday will decide if it will be interesting to open a long cfd! The orange line is showing which point is the position we...
Oil is still in bullish position. As long as we are not breaking 59 dollar I still believe we are in uptrend and the price can rise to 75 dollar. We have reached a critic point last week, but the week ended positive. The sentiment next Monday will decide if it will be interesting to open a long cfd!
My strategy is to never trade on volatile markets. You will...
