Wolfe Wave Identified and possible completion and Correction.
Here is an Advanced possible Bat pattern with an AB=CD .
Watch the a,b,c,d,e Completion for a Possible Correction , i think it should press higher in 2018 .
Wolfe Wave Defined and Targets reached . Good Risk Reward Trade .
Wolfe Wave Defined and a possible change in direction . This is a Long term Target and Possibility.
Possible Ending Diagonal as well as a possible Wolfe Wave for Correction Targets.
I don't think Oil is finished yet with it's Bull Run , i estimate that this is a Wolfe Wave with an extended Prime 5'making it an AB=CD Wave as well. IF all of this happens then it will be a Perfect Wolfe Wave with 5' defined and targets for the downtrend to intersect with the Geo 1-4 Extended Line.
There is two possibility's here , This could be a H&S at my point (c) and drop being the beginning of a Major Correction or it can make a New AB=CD ending at 52.00 Area , the real deal here is for Price to Break Above the Point D on my Chart to be Bullish OR for Price to Close below Point (b) to continue on the Bearish Trend . Note that Price has Retraced up to...
ab=cd Has just about completed which should be the Start of the 5 th Wave .
Here is a Possible Wolfe Wave and i think the Bull Trend is not over yet
Looking at this possible Bearish Wolfe Wave , even if it closes above my Predicted Area i will watch for Divergence .
JUST MY THOUGHTS ,,,,,,,,,,,,,,,,,,That Cypher Hit home on the dime and made a small correction , i think the Bat Pattern should be the next point of interest and a possible Correction point but if you have time and can wait for 2 years then 3.375 is the ultimate Target. Please trade your own Plan and your own Rules . Trade what you see
Here is a short term Possibility , as you can see i have indicated a Cypher , that cold be a 2618 Buy as well ,with a low risk reward . on that same lower time frame there is also a H&S that might also see price going as low as a Double Bottom . IF price closes below that Low then i will consider a Short trade but only after close of day . For now i think we will...
Price has now retraced back up to the top of the Channel , watch for the break either way , i prefer the down side as indicated .
Wolfe Wave defined and watch for that possible 2618 Reracement