I'm looking for crude oil to put in a similar price pattern with the 61.8% retrace holding near 46.2x. I look for a brief move up followed by a similar down move before challenging 52 or higher again.
On weekly chart, the ADX hit and dropped below 20 almost 11 weeks ago signaling price consolidation. There is no clear pattern for this consolidation yet but the support/resistance lines of 43/52 respectively look like good places to start. Should the consolidation persist, we could see: stoch bounce between 80 and 20 TSI move back & forth across 0 RSI hold...
Trade not open yet, waiting for a entry point below $1.45
During the past month(s), I've posted ideas about crude oil that have all called for some type of ending wave pattern that would flow into a down trend resulting in $25 oil or lower. The actions of price in the past several weeks caused me to revisit that plan and in doing so, have changed how i look at price and indicators. Additionally, it's forced me to...
Since 1984, there appears to be periods of time where USOil and USD moved in unison with each other. With the current action of both since middle of 2016, could they be setting up to move to new recent highs together?
Possible Inversed H&S fulfilled around ~2025
With ADX below 20, I'm looking for a similar scenario where crude puts in a double bottom before moving higher.
My current plan is for crude oil to complete a 1-2-3-4-5 (c) wave before moving down later this year. as of now, it looks like it has completed wave 3 and setting up to move down to wave 4. I'm watching 4H chart for averages on price to move down and for ADX to remain below 20 for price to consolidate some more. Should price continue its consolidation and...
AMEX:USO
Friday's action in price has kept my long term plan in tact. Waiting for verification before taking a short position to capture (4).
It may be a bit of a stretch but watching price to see if it can pull back to 46.6x. If so, this may be a good spot to go long (looking at clz16 call). Need to have TSI remain above trends, RSI to push back toward 80, and +DMI push toward 40 should price move us oof of support. Give it 8 hrs to see what it does.
Have a look from my point of view.It has been working for almost 4 days.45.80 will be tested,afterwards it can go 49.00 but It can't be in the day. If I wont be mistaken,call me for other charts. Goodluck,All the best.
Take glance at my chart and state your position.In addition,I already stated my position as investors can see. Good Luck,All the best
For the seller,44,20 tp position For the buyyers,45.50 tp position Good Luck,All the best
From my point of view I planed double fibonacci indicator and it arose a triangle without drawing.For the resistance part,in the next week,the prices can be seen.
USOIL has established a Bearish Gartley further proving that a short-term correction will need to take place in order for the security to continue its rally or pivot to new lows. Now, with the fibonacci retracement system the most notable levels include both 38.2 and 61.8. Also, momentum and selling pressure seems to be increasing as indicated by the doji. Based...