Trendhopper

Trendhopper Updated 

Im still favouring the Butterfly to 58-59 as its supported by an Elliotwave sequence, Crucial area is the blue line....if price closes below the blue line, Elliotwave sequence is invalidated and bat takes control... expecting an upward move in next few days, possiblty today if 44.50 holds....

Trendhopper Updated 

Completed Bullish Gartley pattern....Long Now

Trendhopper Updated 

Uncertainty still surrounds the pound..(if/when will UK leave eu???) ..and dollar is strong......its had its rally and reversed at the 0.618 retracement (circa 1.3250)...should go up to or just above neckline to 1.3175 where it should be rejected by the new downtrend line...take profit 1.287.......expecting it to range 1.28 -1.33 until the situation becomes clearer.....

Trendhopper Updated 

4 Reasons to long at 45.25 (point C on butterfly)....take profit 58-59

Trendhopper Updated 

As I forecast in my post last weekend , oil has been undertaking an ABC correction as part of Wave 4...its been a long and frustrating correction......mostly due to the stubborn support at the .0236% retracement level...had the correction gone to 0.382% then we would now be in an upward wave as all bulls would be on board....instead we are going sideways waiting...

Trendhopper Updated 

Shorttime frame Bat...go long 1.0419

Trendhopper

Weak rally from the double bottom.......wait for price to fall out of channel then short on pullback....could set a new low......

Trendhopper

SHORT from 1.3 - 1.28 then go long .......We don't have a balanced top to this chart, I see the bear flag creating a right shoulder to balance with the left side @ 1.34553 or possibly going as high as 1.38 = 0.618 retracement....we will get a quick dip 1st over the next few days......idea invalid if price falls below 1.28.......

Trendhopper Updated 

THIS PLAN/IDEA IS ON THE BASIS WE ARE SEEING A DOUBLE TOP...we will have confirmation that wave 3 (7 day rally) is finished once price falls out of the blue channel or this 3 wave rally could extend for another 3-5 days..its much too late in this cycle to long this .......wave 4 will be a slower, flatter and broader contraction than wave 2...wave 2 retraced ...

Trendhopper Updated 

Oil seems to be favouring wave theory of late with fib and technical analysis being secondary , its just completed a 5 wave pattern the big red candle confirms the end of this rally as its broken the neckline.....we should now see a corrective ABC pattern before it resumes its uptrend....... RSI is overbought......This is how I see it going....trade your own plan with care

Trendhopper Updated 

we have just breached the 50% retracement zone and hit the trendline.......I know some feel oil will go up and up but its not a 5th wave as the 4th wave went too low and closed below the peak of wave 1.... SHORT NOW TAKE PROFIT 35.81..... excellent risk reward ....

Trendhopper Updated 

An idea I just had to share, I feel USOIL will try a double top, and it just so happens this will be at the 0.618 retracement level (46.85)...its generally agreed on this site , even amongst the bulls that we will have a correction, so I've got my entry for the short, just need to see where we take profit, it could be an AB=CD all the way down to 35.80, but given...

Trendhopper Updated 

Gold is in a megabox and has been for 26th July, it has two necklines........its simply ranging between 1305 and 1375........so buy at the bottom of the range and sell at the top.......otherwise you will spend many wasted hours watching it going sideways!!!

Trendhopper

The upturn in US oil is about to hit strong resistance and a short is on in the 44.40 - 44.70 area. The fibs show that 44.53 is a good reversal figure as it establishes the 61.8 area as a legitimate support zone for the the next leg and also the pullback from yesterdays breakout at 43.26 as first line of resistance @ .236........ SHORT at 44.53....SL 44.75 ..TP ...

Trendhopper

If Breakout holds ....then long oil (ideally with pullback on trendline) .....with TP of 44.40........

Trendhopper Updated 

USDCAD....A lot of energy is building in this pair with a bullish ascending triangle pattern on the weekly chart......upward breakout coming soon to retest the high of 146.00...wait for a daily break over 132.00 and then long...or its good to buy at lower trendline around 130100....lower trendline is strong......If CAD is up then good chance oil will go up with...

Trendhopper

Ok, my first idea, so please excuse the very basic chart here!!. Copper has been selling off daily from its rally high of 2.3...calculating from the beginning of last rally we are approaching a crucial 61.8 retracement level around 2.150, also at current price we are at 0.382 retracement level from its bottom, as copper now appears in established 'bull' territory...