zhipengcfel

zhipengcfel Updated 

It seems that Gold was in a expanding triangle correction. After that it starts the fifth wave up. The target for wave 5 after the expanding triangle is the upper border line. It seems that gold will finish the fifth wave up soon. I will wait the confirmation of breaking the support line and open short position. The first target is around 1234~1244. Good luck...

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USOIL had a very sharp rally from 26.05 to 41.87 in 40 days. After a quick correction, it rallied from 35.22 to 51.64 in 65 days forming a rising wedge pattern. Then it topped at June 8th and broke out of the wedge yesterday. The first rally was corrected by 42% in price and 32% in time. If the second rally has the same correction ratio, the price target is...

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Gold starts rising again after the ABC 335 correction. It seems that the first five wave up has finished. The fifth wave formed a rising wedge. Gold might pull back for the following days. After the pull back, it should go up again. The potential target for the pull back are labeled in the chart. Trading plan for the pull back: Go short at 1276.1 with SL at...

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1. ABCDE wave of wedge pattern finished; 2. Bat pattern completed; 3. Bearish Engulfing Pattern; 4. Bearish divergence; 5.Channel resistance; Good luck for everyone!

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Gold got supported at 0.618 fib level and rising support line. It seems that gold is now in a more flat rising channel (red colour). Pay attention to the red bearish line. It will confirm more uptrend if it can break it up. Otherwise gold might retrace back to the support line again. Trading plan: Go long if oil retraces back to the support line at 1210~1220 SL...

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Silver got supported at the support zone and 0.5 fib level after the zigzag sharp correction. The next target can go up to 16.96 at least. Trading suggestions: Go long when it retraces back to 16.17~16.27 SL at 15.9 TP at 16.96 Good luck for everyone!

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Oil is in a flat correction currently (335 pattern likely). Compare with the sharp wave 2 correction, this flat correction will most probably continue to June 13th or longer. Let's see how alternation rule play! Montly chart Elliott Wave: Good luck for everyone!

zhipengcfel

XGY0 breaks out of the weekly bearish line. It is a strong sign to go long. For the whole elliott wave analysis, please check my previous analysis chart below. Good luck for everyone!

zhipengcfel

Five month ago I posted a month chart on oil with elliott wave analysis. And we detected the bottom was coming at that time. Now oil is coming to an important level. If it breaks up, it will confirm the uptrend going further. The previous breaks down which was made last year will be a false break. For a short time, it might retrace back. But for a long...

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Elliott wave analysis is on chart. Trading setup: Short at 49.2 SL at 49.8 TP1 46.65 TP2 44.47 TP3 42.7 Good luck to me!

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Gold is approaching the support line of the rising channel and retest the previous triangle. Pay attention to the whether the rising channel will hold and watch carefully the bearish trend line. Good luck for everyone!

zhipengcfel

USOIL formed a nice wedge. The price also comes to the upper border of previous consolidation area. I will watch it carefully and prepare to sell the break with SL at 49.3. TP1: 47.2 TP2: 45.9 TP3: 44 Good luck for everyone!

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CLN2016 is usoil contract at July and will be the main contract after May 20th. We can see the powerful of elliott wave analysis here. The rally from 31.61 to 47.54 is quite clear from elliott wave analysis. The rally is a nice 53535 leading diagonal structure because the wave 4 retraced into wave 1. The wave 5 is a nice 33333 ending diagonal structure. We can...

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Silver had a flat correction in wave 2. Then a huge wave 3 up is ongoing for these days. Will wave 4 be a sharp correction? Let's see how alteration rule play. Good luck for everyone!

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Shanghai class A index is coming to a resistance level at around 3166~3280. It also meets a resistance from the bearish trend line. From EW analysis the previous ABC correction might be part of the DIAGONAL TRIANGLES. It will be a good opportunity to go long after the wave E is finished which might go back to 2650~2750. After finishing the wave E, it might bounce...

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US Oil underwent a complex correction. The correction wave is quite clear now. We can now see the beauty of elliott wave analysis. The first correction is a regular flat for CLM2016 (Oil contract at May). It is an expanded correction for oil continuous contract see below (usoil or CL1!). The second correction is a zigzag 535 ABC. Currently oil gets supported...

zhipengcfel

UKoil formed a quite interesting structure —— a 33333 rising wedge. It should be a leading diagnoal which acts as wave 1. Following it will be a correction wave 2. And remember that if wave 1 is a leading diagnoal, wave 3 is usually extended. Good luck for everyone! Welcome to join the discussion!

zhipengcfel Updated 

Open short at 46 with SL at 47.09 TP 1: 43.96 TP2: 41.9 TP3: 40.03 Good luck to me!