We opened with a large Gap to the upside... So far we have not moved in any direction with any purpose. To stay bearish running into NY the DAILY -OB should be respected if we retrace back to that level. Closing the NWOG with a displacement candle would be advantageous for sell side to be taken and the two targets I have noted with the magnets.
Crude EW count MCX:CRUDEOIL1! TVC:USOIL FX:USOIL FOREXCOM:USOIL BLACKBULL:WTI Crudeoil elliott wave count
We are nearing the end of the week and have had some nice movement heading lower.. I have marked out the Previous Day Wick ( PD Wick ) If price is to retrace today for NY this is where I would expect it to stop and head lower / consolidate at least. The Draw on Price are bellow : Daily +OB Daily EQL'S DAILY FVG
WTI Oil (USOIL) followed our July 02 (see chart below) sell signal to perfection as it got rejected on the Lower Highs trend-line and Resistance 1 and broke today below the 0.618 Fib, hitting our 77.00 Target in the process: For that projection we used the February 05 Low as a benchmark, which also hit the 0.618 Fib and rebounded on the 1W MA200 (red...
So as I stated in my last post, we would have a short range day as per previous large ranged day. We did attack the SSL as target 1 however Im looking at price heading higher to the BSL and 1hr FVG before we head down... Lets see what Asia and early London does.. Will update nearer to NY for Turbo Tuesday...
So Friday Crude showed its hand to us and what it was really wanting to do. Sell side hit and with that a large Daily Displacement. We could expect a smaller range day today and with that said I am looking for short term BSL to be taken before to carry on to the sell side of the chart. I have two targets marked out clearly for this weeks initial draw on liquidity...
Yesterday we saw a nice rally creating a Daily +OB which I have annotated. If price is to respect the 4hr FVG we will see price go higher to the marked target. I am bullish today however to expect some form of retracement after such a move is understandable for the market to make. Bullish is the motive.
WTI Oil (USOIL) is posting today the 2nd straight green 1D candle following yesterday's EIA report but the short-term pattern remains a (dashed) Channel Down, which keeps the trend bearish. Ever since the July 05 rejection at the top (Lower Highs trend-line) of the 1-year Triangle pattern, we've been aiming for a 1W MA200 (red trend-line) contact, similar to the...
We have created a consolidation and formed a short term low for now I believe price will head to these BSL targets marked in the chart. 15min FVG should stay respected with candles closing above it if revisited, preferably for price to not come back to it.
Currently we are between two Daily OB's and high probability bias isnt on the cards right now. This means we look to intra day liquidity The 15min +OB should be respected leading to NY open with the two EQH's as DRAW for price. Short and Simple.
So we have continued to head south and the next target would be the Daily SSL and the Red Daily FVG. With all the news today and it being summer month volume there could be a nice sell off towards these targets by the end of the week. Pretty simple.
Last week (July 02, see chart below) we called for a short-term correction upon a potential Lower Highs rejection on WTI Oil (USOIL): As you can see, the strong rejection was materialized last Friday on that 9-month Resistance, and the long-term Triangle pattern is technically looking for a 0.618 Fibonacci retracement level test. Zooming out on the 1W...
So we took some Daily BSL last week on Friday and since we have sold off slowly. NWOG gapped down and this indicates for at least today some sort of Raid or hunt to also touch a PD array thats near to a discount. We have no major news catalyst today and that brings slow PA although it may travel its not ideal for scalpers. ( Lots of back and forth ) Wednesday...
My ultimate target for this week is the BSL marked with a magnet. The main internal Liquidity I am looking at is marked with arrows. Which ones get taken first near or at NFP is very important for the intra day BIAS And I will be watching this. Mainly Tape reading today, I have no interest in Engaging in the market
WTI Oil (USOIL) has so far ignored last week's 1D Death Cross formation and made a strong jump yesterday that isn't about to only test Resistance 1 (84.50, the April 26 High) but also the Lower Highs trend-line, a 9-month Resistance going back to September 28 2023. The 1D RSI approaching the 70.00 overbought level after a Double Bottom at 30.00, which is a...
So we are heavily bullish and in this scenario I like to see a retracement around NY that will enable me to start looking for my entry model that will Target the BSL that is marked. Pretty simple today... I have a 1hr fvg that I would like to be respected meaning 1hr candle closes above the discount of the FVG. If before NY we take out the BSL marked I will...
Simply I would like Crude to respect the 1hr FVG leading upto NY open This will tell me the bias going into the rest of the day. I am heavily Bullish on Crude oil. If this target gets taken before I will put and update to the next target and Bias.
WTI Oil (USOIL) is forming a Death Cross on the 1D time-frame, the first since December 22 2023. That comes after the former Channel Down had a bullish break-out following a rebound on the 1W MA50 (red trend-line), a series of events that happened also on December 20 2023 and before that on May 17 2023. We already have a 1D MACD Bullish Cross. Circling back to...