Oil Futures for Oct 15 & 16th 2018.
Following the cup&handle on the 15min and hourly charts, we have a confirmed breakout upon the gapup in foreign markets Sunday night.
US market opening price should find support at the top of the cup around 72, and complete its run to the PT of 73.30.
This lines up with the downtrend started on Oct 3rd (light blue), as well as...
Publishing "notes to self" on a what-if? scenario to test a combination of pitchfork & Fib SR Fan (removed for visual clarity) to determine Elliott impulse wave 5 -- callouts are not recommendations but notes to see how the model performs into early December...
Why NXS? Cause Nexus is an interesting project that gets no love.
Last three cycles have been quite regular with 30 days periods from top to top and bottom to bottom. Everytime it has shown deeper lows and highs, and this time we didn't even retrace to the 0,5 angle. With yesterday's top we should have a couple of weeks more of downtrend and we will go through the 0,382 angle and maybe down to the 0,25.
Thanks for your comments...
We just reached 0,5 angle again where last peak resisted and we have the RSI divergence. There are enough reasons for me to place a short with nice R/R.
This is the same fan used on last idea published on this pair.
Thanks for your likes and comments.
This fib speed resistance fan shows the angles 0,25 and 0,5 are significant as resistances and we just hit the former with an immediate rejection of the uptrend. This idea follows the fact that DXY is starting to reverse and we can see the same pattern on the AUDUSD that was published before.
First target on the 0,382 angle.
Thanks for your comments.
This pair found support on the 0,25 angle of the fan and broke resistance that was holding for almost a month. First objective on the 0,382 angle and also fib time from last swing.
Good luck and thanks for your comments.
After some heavy battering of the Yen, it now looks to recover and ready for some retrace. After hitting the 0,5 angle of this fan, we have been closing below tenkan and there is an opportunity to short till we hit the cloud or the 0,618 angle of the fan.
Cheers and thanks for your comments.
Several ingredients are now ready to long gold, among which DXY already started its descent. We've been hammering this angle enough and it looks ripe to break now.
The safest play would be to wait for the pop on the other side, and even safer to long the pullback.