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.
www.tradingview.com See if the corrective wave c here can be end at 63.49 or not.
Shorted 65.86. Looking for 65.2ish today. Will short heavy at 66.3ish if it prints first.
wti daily chart with current PF. looking at key areas from 2017 peaks in downtrend to provide price barriers in current up move.
Looks ready to push higher, & price broke its counter trend bouncing off support
www.tradingview.com Confirm CL -0.62% 4H starts wave 5, and now watch coming new high or the double tops. if new high comes and waiting for confirmation the take long position, the target is 67.38.
Crypto is all the rage and over there in the corner is an old freind WTIUSD who's been solidly bullsh the last 6 months. Time to let crypto do its consolidation thing and ride the big black golden wave! With the recent pullback I want to see a rally off the 63.00 that will ultimately take us up into the 69.00. But first we have to get through my first target at...
www.tradingview.com Watch resistance 63.48, if failed, it will test the support of 63.00 again, it means 63.00 had been tested 3 times. if break, then 4H could be regarded as go into the downtrend of wave 4. Being the end of the triangle, if the break happened, I may take the short position.
www.tradingview.com CL 15 minutes in the downtrend corrective wave and comes to the end of the triangle, it have to choose the direction up or down. From my point my view, it may touch 63.00 one more to test the support. Anyway, I believe it will happen during Euro or US time, not Asia time.
Some minor adjustments to previous chart - Added pitchfork (credit to friend Matt) and some trendlines. MACD and TSI crossed down. Possibly see .382 retracement to 57XX, would be some achievement by bears if it happens.
If the count is correct then WTI is in the 5th of the big 3rd wave, right now building the small correction wave 2 of 5 Because of the lengths of the 1st wave (of 5) it looks like price is working on an extended 5th wave. Which makes sense if the big 3rd has the target around the 161% fibo extension level. Short term the marked could retrace until the 60$ zone ...
In the very long term view WTI might be in the 3rd big wave, expecting a new ATH in the next years.
B&B Pattern. Trade setup with Stop Buy position (EP) at 63.50, Stop Loss (SL) at 62.50 and Take Profit (TP) at 64.30 Money Management I have 17,000 USD in my portfolio. I can lose 10% of the port which is 1700 USD. Position Sizing 1 Tick = $1000 1 Contract size need IM = $2,310 (I can open not more than $17,000 / $2,310 = 7.35 Cons) It is 1 Tick from EP to...
www.tradingview.com Should take great attention on the breakout of 63.00, if happens, means the extension of wave 4/c, then the target shall be at 61.83, more aggressively, it may challenge the support 59.73. Generally speaking, CL is still in daily up trend, but 4H was already in the down trend.
www.tradingview.com if there are strong support of 63.00, then could take a long position as a test of end of wave iv/c.