This structure looks better. The wave 4 finally I revealed the key for it as it unfolded with wave C as an ending diagonal.
The wave 4 that I was looking to unfold before could be over long ago as simple flat. The further seesaw structure that already distracted so many traders from the crude could be an ending diagonal wave 5 of (5) of ((C)). After it gets finished we could see a drop in 3 waves retracement.
Zones created using crossovers of Monthly 20 MA on VIX close & 20 MA of same. Like end of crash in 02 & 09 some bulls and bears think this crash will only be confirmed over when TNX closes month above 1.34. See what happened to OIL, GOLD, and DOLLAR last time (green verticals). White verticals denote VIX peak (no guarantee reached that yet). Caveat small sample...
crude forming bull flag after breaking wedge on upside 33 to 35. As i said earlier expecting wedge to find support around low line of wedge and ultimately to break outside this wedge and eventually see a bull flag length is around 9 dollars and once wedge is broken Crude oil expecting target of 33 to 35 and unable to figure out timeline.. it might take few weeks...
Crude oil (US OIL)showing descending triangle pattern Recent peak of crude oil is 36.28 and support line of triangle is around 29.95 Friday we had false break out and closed inside Descending triangle.. Next week or two looking a target 23 to 24.. and pattern calculation target is 23.62. Always plan to have 1% strict stop loss during high volatile and...
Crude watching support line and higher low formation in hourly chart If it holds and resistance broken after that confirms wave 3 and need to happen with force..else still bottom formation. Also we need to see failure of head and shoulder forming on hourly
This is intended more as educational material on a strategy for using renko charts. To begin with, I'll be using USOil in the examples but will include other markets as I continue through the series. The material is not intended to prescribe or recommend actual trades as the decision to place trades is the responsibility of each individual who trades as they...
This is intended more as educational material on a strategy for using renko charts. To begin with, I'll be using USOil in the examples but will include other markets as I continue through the series. The material is not intended to prescribe or recommend actual trades as the decision to place trades is the responsibility of each individual who trades as they...
This is intended more as educational material on a strategy for using renko charts. To begin with, I'll be using USOil in the examples but will include other markets as I continue through the series. The material is not intended to prescribe or recommend actual trades as the decision to place trades is the responsibility of each individual who trades as they...
Crude OIL has been in an uptrend since June of 2017, a five-wave cycle that can come to an end. Specifically, we see energy trading within an uptrend channel, currently in the fifth wave that is testing the upper parallel resistance line where the fifth wave can look for a top. In fact, we see a wedge pattern forming up in the last month or so, which is normally...
Crude oil has completed a complex correction labeled as wave II or B at the 42.03 level from where we started to track a new bullish impulse. An impulse is a five wave pattern, so there is room for much more gains on energy market since we see current leg up as blue wave 3 of an impulse. Wave 3) has in general five clear waves, which means oil price can still...
For more details and background please read my article on Long Term Analysis of Oil published recently at www.talkmarkets.com OPEC meeting is schedule on Thursday the 30th November 2017. It is widely anticipated that OPEC members and other cooperating oil producing nations will agree an extension of the production cut beyond March 2018. It remains to be seen if...
This pattern has brought me great success scalping crude oil. How to trade it: Look for an ABCD triangle formation with lower highs and higher lows. Draw the triangle with extended lines. Measure the baseline at B and divide it by 2 Add this value to the point of breakout to get a nice padded target to either side Look out for fakeouts and good luck. ...