Variation on the previous chart, a 5 wave count that is already completed, suggested by a friend...which fits with a potential head and shoulders, correction to 0.618
Looks like we're in the 5th now to 5933. Perfect fibs hit so far, 1.618 of wave 1 for wave 3, 0.5 of wave 1 for wave 2, 0.5 of wave 3 for wave 4...now potentially 1.618 or 2.618 of wave 4 for wave 5. I think there we will see a big correction before continuing downwards.
Bat pattern completed on timeframe H1 38.2% level coincide with daily kijun. potential stop/target ~ 1:2.4
Little update to this idea: I think A wave is complete (it bounced from 0.382 as per this idea > ) If it is we may correct to the same level as the smaller degree white wave 4 around 6320 (.618 is there too), just as the white wave 4 corrected to 6330 area, the same level as the smaller degree wave 4 (blue waves). Next could be C wave (or wave 3 in a more...
Enter 64.15 stop loss 66.78
Intraday idea. Looks like 5th wave down to complete at 6236 before correction to 50% fib around 6330 (back to wave 4 and trendline test), before next leg down.
This morning crude fell outside of the giant wedge for the first time. In my opinion two possibilities from here. 1. A correction to 0.618 before wave 3 up towards 68. 2. A deep correction to 54 area. Weekly MACD looks to be crossing down...
Many milestones have occurred for oil prices in the last year. The world is going green, and the US now exports oil. This has led to a slight glut in the oil markets. A stronger USD buoyed by a statement from Fed Chair Powell regarding increasing interest rates to fight inflation pushed the price of oil lower. I see oil hitting $58-$60 range by Mar 10 2018.
Trading Signal Short Position (EP) : 62.80 Stop Loss (SL) : 62.85 Take Profit (TP) : 62.35 Description CL1! formed Double Repo Sell at 1h time frame. Trade setup with sell limit at 0.618 level of FR (62.80) and place stop loss after 0.382 level of FR (62.85). Once the position was hit, place take profit before an agreement (62.35) Money Management Money...
Trading Signal Short Position (EP) : 63.05 Stop Loss (SL) : 63.75 Take Profit (TP) : 62.00 Description CL1! have reached day resistance zone and about to go down for correction. Turtle Soup was formed during 4h time frame. Set up sell stop at 63.05 and place take profit (Buy limit) before 0.382 of FR (62.00) Wait for the market price hit entry point then,...
Potentially another bull flag forming. Previous flag bounced first at 0.328, then again at 0.5. If this is another flag its hit 0.382, may hit 0.5 next which coincides with bullish trendline, before breakout to 65+
I had posted this idea on 1H but got it wrong: Seems there was and ending diagonal wave 5 for the end of wave 3 which was then followed by a bounce at 0.382 for wave 4. Looks like we are in wave 5 now, possibly one more leg up early next week to hit 1.618 of wave 4 around 6381, but there is a possibility the wave will continue on to 2.618 at 6570. This may...
An update to several recent and older ideas on Crude Oil: I believe we are nearing the end of wave 1 of 5 and if so could see a correction to mid 60's to 0.618 fib, but could correct higher at 0.382 or 0.5. Wave 3 should follow the correction to at least 1.618 of wave 1. Ultimately I think wave 5 will hit 1.618 of the larger wave 4 (6666/5809) around...
Crude is showing interesting pattern now Everything mentioned in the chart Best of luck
Hello Crude Oil Traders. Let's take a look at this Chart. According to Fibonacci retracement, it seems that the market will get into a short and middle-term downtrend. It retraced to 0.23 level that indicates us an intention to get down. Even that the last crude oil inventories were very positive for the market it couldn't make any progress in the bullish trend....
Crude oil Stay long With This level at $62--60 With Sl below 58 on daily Closing base for target $68--$75
Oil is in a nice place to go short with a very tight stop loss. Expecting at least to test the low, then a possible 3 wave correction for more down.