Texas
$MMEX reversal ready ahead of valuation reportCompany has seen some insane pps moves over the weeks. This dip is providing a great opp to load up ahead of valuation report and other news/filings. I would like to see this test $0.06 near term. Highly speculative play here.
Time to rebound-USOILPrice stopped at trend line forming a doji candlestick pattern. RSI is overselled. Probably is time to expect rebound.
Inverse SHS will be formed?Will SHS be created? If price hits support level, we will have a clear opportunity to go long. Now its time to see how the price develops.
Second Big wave is here.. low tide still late Jan.Ok this is a quick summary of today's trade.. I will update today and over weekend and include Timecycle Chart which this trade is linked to.. This is my daily tracking chart.
We added 20% Short @ 51.28 , will add more if we fail the trend again or collapses below 50.7x.
Manuel stops about 53.
Trade safe! Make money
Possible LongWe broke down a little overnight for a small pullback surprisingly I was expecting price to retrace to the lows, held a one hour fib to the upside, buy the pullback at the 50% small fib for the 15 minute chart be careful with the top of this channel it will be heave resistance.
Good SHORT READYOkay 1hr fib has been retraced to the 61.8%, At the current time of publishing stochastics oversold on the 15 minute, overbought on the one hour. This could hold at $44.72 and go lower but we do have a channel support half way into the channel. Waiting for volume to show the direction of the market.
Good ShortGood short lined up, ready for a continued push to the downside. Be careful during news at 10:30am EST
BUY OILThis is a good setup here, and a good buy, 50% fib not broken on the 4hr, 1hr fib lined up at the -61.8 usually when the 61.8 is held it will reverse tot he up side, 50% 4hr fib confirming that.
QUICK REVERSALI was wondering why oil had bounced at the level it did and I could not figure out why. 1hr fib shows a perfect bounce at the $45.28 level like it did a few days before that. It has to hold 45.53 on the 15 minute in order to go higher. Stochastics looks like they may be lined up for a good push to the upside do not expect more than .50 cents but it may continue
Beautiful ShortNice short lined up ready to break. We could have a nice profit taking pullback down to some previous Resistance could go lower on news.
CRUDE WEST TEXAS SHORT @ 63.00The trend is up. Crude is rising. Possibly to the heights of $75/$80 per barrel.
However, the Day supply zone allows a counter-trend position from ~$63 with a risk of 100 points. The reward on this, to the opposing Week demand zone is 700 points (7:1). This will possibly be where a reversal to the upside begins.
EP: ~63.30
SL: ~64.30
TP: ~56.30
R/R: 7:1
WTI CRUDE OIL: incoming uptrendHi Traders,
WTI OIL is very close to the support in the area 75.62-74.94. The sputtering downtrend is "kicking the bucket" and the start of a new uptrend is only hours away.
TARGETS
First down to the area 75.62-74.94
then up to the area 87.53-87.62 (for a start)
ELLIOTT WAVES
The weekly chart shows that the A-B-C will be completed by reaching the area 75.62-74.94 where a new uptrend should kick in. The 4-hour and 1-hour charts are clearly sounding the bell as OIL is staging the very last sub-minuette wave down to the target.
