Quick Take: USOil - MAJOR Change In Overall Outlook
Updated
There has been a MAJOR change in my overall outlook on USOil from my previous analysis. See here for my previous wave count analysis: 
This is a snapshot of what I am seeing is to happen. It is currently still in a wave 3 up. That wave 3 is still NOT complete. When this wave 3 is done, then should be looking for a wave 4 retrace to get underway that could bring prices back down to the $45.00 level. Then to look for a MAJOR move higher from there. I am seeing that Oil could be reaching the $70 - $80 price levels sometime this year.
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*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
THINK before you comment! It takes MUCH work and time to create these posts! So before you decide to criticize me for what I post, or how I choose to post, remember that I don't just throw a chart up with a few lines on it with a few arrows showing 2 possible directions and that's it. I can do those in 5 mins. My charts take MUCH effort and I put much detail into creating them for your benefit. I hope it helps but I also hope it's appreciated!
If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I can know my post was helpful to you. As always, any CONSTRUCTIVE comments are welcome whether AGREE or DISAGREE.
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This is a snapshot of what I am seeing is to happen. It is currently still in a wave 3 up. That wave 3 is still NOT complete. When this wave 3 is done, then should be looking for a wave 4 retrace to get underway that could bring prices back down to the $45.00 level. Then to look for a MAJOR move higher from there. I am seeing that Oil could be reaching the $70 - $80 price levels sometime this year.
For more complete coverage of USOil and continuous updates as well as REAL-TIME alerts as to trading opportunities, subscribe here: 50% discount Premium Trial Offer
*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
THINK before you comment! It takes MUCH work and time to create these posts! So before you decide to criticize me for what I post, or how I choose to post, remember that I don't just throw a chart up with a few lines on it with a few arrows showing 2 possible directions and that's it. I can do those in 5 mins. My charts take MUCH effort and I put much detail into creating them for your benefit. I hope it helps but I also hope it's appreciated!
If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I can know my post was helpful to you. As always, any CONSTRUCTIVE comments are welcome whether AGREE or DISAGREE.
If you desire to receive ALL my analysis on pairs I trade and cover as well as REAL-TIME trade signals, consider joining my private group and my members. You'll get REAL-TIME trade signals and analysis as the trade happens and discussions those trades live. Interested? Go to efxselect.com to subscribe and get these signals in REAL-TIME!
Faceb00k: goo.gl/Mb81w7
Website: efxselect.com to subscribe
Join my Skype chat room! It's FREE (requires registration): Skype link: goo.gl/2fwvsa
Documented Trade Log here: bit.ly/29AeqnC
Note
Hope you all paid attention to the price action here. 3 days ago, I said to wait and don't sell yet because it wasn't done moving higher. It moved higher and those that sold too early most likely got caught. But if you were one of my members you knew what to look for and when to pull the trigger.Note
Oil broke down out of that trading channel which should've been the minor wave (3). That breakout now looks to have been part of the minor wave (4) which may have just completed. I have already taken profit on this short trade and closed the position expecting that prices may now make a wave (5) push to higher prices before dropping again. Look for divergence to form to confirm this. 
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Mailing list: bit.ly/2iNieEY
Facebook Group: facebook.com/efxselect
Twitter: @andrewefxselect
Website: efxselect.com
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