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...
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...
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...
Just some notes scribbled on a chart. Fairly obvious that I am bullish with crude oil based on recent previous charts, but there are other technicals that seem to be pointing to more upside from here.
Not a candlestick pattern specialist but looks like a text book Bullish Harami on weekly; the green candle body formed last week is completely engulfed by the red candle from the week before. "The Bullish Harami is a sign of disparity in the market’s health. The market is characterized by a downtrend and a bearish mood, and there is heavy selling reflected by a...
Don't look at crytpo much but BTC seems to be at an important stage. Could have completed an ABC correction at $11,300 at approx. 1.618 of wave A (orange waves). Alternatively could be a wave 3 completed and now in wave 4 to 0.382 of wave 3 (red waves). If wave 4 can expect BTC to extend either 1.618 or 2.618 of wave 4 for wave 5, between $12,000 and...
Theory for crude; possibly in the right shoulder of an inverse head and shoulder and sub waves of a larger wave 3. Potentially a double bottom and bounce off strong bullish trendline. The trendline that forms the neckline has been very resistant, if it keeps price in check it could potentially fall and correct to around 0.618 at 5950 ish before resuming upward.
Update to several recent ideas: Looks promising for wave 5 now, bounced around 0.382 fib for 4 days and has now moved upwards. Has stopped at 0.382 of the complete ABC around the mid 61 area which is a common point for wave 1 to complete, may see a correction soon before wave 3 of wave 5.
Potentially another wave down to 5650 area to come as it looks like just completed an ABC for wave 4, wave 5 1.618 is 5640.
Intraday idea that could be forming part of a larger move upward. Potentially in wave 4 (to 0.382 of wave 3) around $60,00 with wave 5 1.618 or 2.618 of wave 4 to $61,30 or $62,09 Invalidation point is wave 4 crossing wave 1 at $59,70...crossing that point would mean more bearish move down in my opinion and would indicate a possible ABC correction completed to...
Update to this idea > Could the correction be over? Price bounced right at the median line of the pink Andrews pitchfork shown in the chart and approximately 0.382 of wave 3. If you draw a channel (shown in yellow) using waves 1, 2 and 4 as reference points (wave 3 popped out of the channel which is not uncommon when using Elliot Wave and channels) and 1.618 of...
Update to this 1D chart > Possibly ABC correction completed to .236 of wave 3 (4560-6666). If this is the completion of wave 4 it is sharp compared to the wave 2 we had from 5040 to 4570 which is as per Elliot Wave theory. Appears to be completed as per this idea on smaller timeframe > 1.618 of A wave reached for completion of C. I bought at 6150. If low of...
Still trying to pick a top :) Slightly different internal count for wave 5 of wave 3 pushing up to 6666 (0.5 fib $107/$26).
An update to previous ideas which became invalid with wave 4 crossing wave 1 (6500 was invalidation point). Possibly an ABC now with C reaching 1.618 of A wave. A note to the naysayers...If I am wrong I won't stop posting ideas and theories (as someone claimed on a comment on a previous idea). Imagine if everyone on Trading View simply stopped sharing ideas if...
Alternate count as the previous one is now invalid (wave 4 crossed wave 1)