Update to triangle idea which didn't pan out > Price bounced sharply at 4435 which is exactly 0.618 level so possible that all the sideways price action was an ABC for wave 4, wave 5 completed at 4776 to complete A wave, now in B before the next impulse for C to new highs.
Possibly a triangle forming in crude oil which would indicate B wave with C to follow, part of a bigger correction possibly in the form of WXY or WXYXZ.
Just a theory, not a trade, .382 level at 5560 would be an interesting level to watch
Idea for The Coca Cola Company; possibly near completion of an ending diagonal for wave 5 of 5 of 1 (sub wave 1 of a larger wave 3).
Update to this idea > Triangle broke and .382 extension hit. It could be the bottom, or very close (maybe one more extension down) and a move to correct coming up over the coming months.
Update to previous idea > Possible that E wave now completed, or one more push up to upper trendline.
Follow up on this idea > Triangle is well and truly broken and possibly in an impulsive wave 3 now which could end up at the 1.618 extension of wave 1.
Looks like a triangle is forming which could indicate wave 4 with a 5th wave to come to mid $40's. May see a rise back to the top of the triangle, though E wave can fall short of the upper trendline in some cases.
Not an Andrews expert but price stopped exactly at the lower MLH for this Modified Schiff pitchfork. Any Andrews experts can confirm if this fork is valid? Zoomed in >
Update to this long term theory in Crude Oil > Big bearish wave since hitting 7689 which could be C wave as part of a bigger wave 4. Long term channel bottom and the median line parallel of the pitchfork shown could be a good buying area around $58/$59 for a wave up towards $80.
Lower timeframe of this idea > Looks like a big wedge (ending diagonal) is forming which could be for wave 5 of C (C shown in the link above in green) which could mean that the down trend in crude oil price is nearing an end. Ending diagonal often occurs when the preceding move of the trend has gone too far, too fast and has run out of steam (15$ drop in 4...
Update to this idea > Possible ending diagonal
Looks like a triangle is forming which could mean a wave 4 with wave 5 to follow to complete a larger full set of 5 waves around the 6100 area, then a correction. If its not a triangle and breaks upwards it could mean the 5th wave (yellow V) is completed already at 6118.
A slightly wild variation to this long term bullish theory on Crude Oil This idea is a bit wild but there are similarities between 2007/08 and 2017/18, explained below in screenshots. 2007/08: There was 3 months of sideways price action from November 2007 until January 2008, followed by a large rise in price that then corrected to the 0.5 Fibonnaci level. As...
Update to this idea > Since 7130 broke the regular impulsive waves are now invalid (wave 4 crossing wave 1) but I think theres a chance that an ending diagonal could play out. There is also potentially bullish hidden divergence on the MACD histogram; price can drop all the way down to the last swing low around 67 and this hidden divergence can still be valid.
An update to long term theory > It looks like wave 3 of 3 of 5 is completed so may pull back soon to .236 ($73,92) or .382 ($72,80) before the next leg up. Interestingly in a variation of the same long term theory we hit the .382 extension at $75,75 > This is using the fib extension from the start of wave 3 at $45,67 to the top of wave 3 at $75,27 and end of...
Not a pro harmonic trader but the fib levels for this crab appear to be correct
An update to this idea > I think we may have completed wave 2 at $67,90 (0.5 of wave 1) and now in the early stages of wave 3 towards $79, possibly nearing the end of wave 1 of 3.