My best guess is the green highlighted area shouldn't be viewed as a "Bounce" zone. Instead, I think this will be the area where accumulation will take place. It'll take a few weeks and a few failed breakouts, so don't worry about missing the bottom. You'll have a few...
Potential Nat Gas Price Action for the Next 2 weeks
Current Price at Posting: 54.69 Directional Bias: Long Price Target: 57 Good Entry: 64-64.3 Risk/Reward: Max of 30 tick risk / Potential Reward of 200+ ticks. Trade Idea Invalidation: Hourly Candle close below 64
After a 10 straight drops, oil finally at support based on my indicator. As long as the support holds, long oil. TP: 65
Let's see if this crude bounce can pan out.
Previous Oil long idea did not end up reaching the target - let's try again. Along with my SPY trade idea, I believe oil is due for a nice rally, even if in a counter trend capacity. Directional Bias: Long Price Target: 72 Good Entry: Breakout Above 68.5 or another retest of low 66 area. Risk/Reward: Risk no more than 100 ticks/ 300-600 tick potential reward
Oil Left translated on the last Daily Cycle but did not take out the previous cycle's low as expected. It also did not close above the 10 week MA after making a swing low last Friday. This leads me to believe we are seeing another Daily Cycle within this extended Intermediate Cycle, which should also left translate, and this time, move to a lower low, taking out...
ascending triangle target $288
keep an eye on the .236 fib level
See my March post (link below) I looked for the index to likely get to the 220-224 level. It’s getting close and there is now a bearish diverg in the RSI so may get a correction soon But I would not be surprised if it rose a little more to this target zone. Watch closely for reversal pattern and consider DWT. I closed out my UWT personally when it hit the lower...
oil is currently in a strong uptrend in 2018. Look for oil to peak in the high 70's then make it's gradual fade over the next 4-6 years.
Check latest updates at www castawaytrader com/crude html
To complete first five wave move down in a larger wave A, crude still may drop one more time to the green target box It should get over 64.10 to confirm completion of the downside
Crude has either topped in corrective wave ( ii ) up or can make one more high deeper into the red box. And then I expected it to start decline in the wave ( a ) of ( iii )
Have made solid trades this week on crude with crude scalps. Momentum in ST favors bears even with favorable api. However, Bovies are not out of the game if 60.10 and 59.95 hold strong. Bearish cypher and drop in play at the moment, but 3 attempts to take out bulls has failed. If history is to be applied here, it looks like line in the sand has been drawn and itll...