Comparing brent and wti, there are differences in the first waves to the downside.
On the wti chart I assume wave 1 as a leading diagonal. Overall, this may be impulse unfolding, with a solid downside trajectory.
the risk is that brent has not formed a clear first wave of the impulse, more resembling a three-wave structure.
Anyway, I sold this instrument 500 pips...
I estimate that we will get a nice entry into long, after a completion of an extended flat.
Need to complete wave C in the form of an ending diagonal.
Anyway, this is a forecast, with a likely structure
Ending diagonal - impulsive breakout, three waves pullback - break down
This may be a nice entry for a couple of months movement down
On a daily chart you will see a potentially completed running flat. Basic target - 1,63
Extended target 1500 pips down
At the left side of the chart the upward movement has clear five waves, therefore I assume this as an impulse.
As the basic rule of the EWT, every impulse, after a proper correction, is followed by another impulse, without breaking the point Zero (start of the impulse).
From the current price levels the conservative target would be the test of the extreme of the...
The impulsive downtrend may be completed, based on a set of my assumptions explained on the chart.
Therefore it would be nice to make a decent pullback, correcting this impulse.
PS. Just want to measure how useful my posts are. If you find them useful, please, push a "like" button. I will compare the previous posts with the actual "utility of my...
Seems like we have waves 1-2
Structurally, likely to go higher to complete higher t/f impulse.
At least, it is reasonable to long as shown on the chart. In a favourable scenario, this may be the reversal. Anyway, every signal to long should be taken seriously, this is the first attempt to long the pair in a multi-week uptrend.
I am in. No stop loss. Despite the...
As an alternative to the structure that I posted earlier, this whole set up may become an impulse with the extended wave 3 as shown on the chart.
If interested, you may simply google it “channel extended wave 3”
Let’s see how this will play out
Price has retraced to the area of the wave 4 of the prior structure, via a three wave pullback - zigzag.
Wave b in the zigzag is a triangle, wave C travelled 62% distance of wave A.
Looking for further higher high
I want silver price to go upside immediately! :)
Jokes aside - there is a complete fractal with the impulse followed by a flat correction
the only question is whether wave C is complete or not. So far the structure is very strange, at least I have never come across such an impulse with a short wave 3 followed by a running flat in w4.
Anyway, the impulse as I see...
Sometime ago I posted my view on a couple of cryptocurrencies.
For those who bought XRP - KEEP IT and DONT SELL UNTIL IT COMES TO 1,5 (more precisely - 1,65).
This price is the target of the first impulse that is underway.
I will close half of my position (0,297) at that level and buy again when price completes wave 2 (pullback 50-62% of the impulse)
It seems to me, that we finally arrived at a complete fractal
Impulse - followed by a flat structure.
Although wave see is a very interesting one, having a running flat in the wave 4 of it, and a small expanding diagonal in the wave 5