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Wolfe Wave

continuation pattern is indicating for bearish movea continuation pattern is seen on the chart for bearish move for oil dip toward the bottom of the channel .price came back into channel after false breakout that is coincides with our elliot wave count . out targets for this bearish move is as follows tp1 :90$ tp2 :87$ tp3: 82.5$ Oil prices plunged around 2% on Friday, on expectations that supply disruptions in the U.S. Gulf of Mexico would be short-term, while recession fears clouded the demand outlook. Oil have had confusing signals this week on the outlook for oil demand. For example, this week’s US oil inventory report was an odd one, showing a massive, unexpected rise in headline stocks (bearish), but a large drop in gasoline stocks (bullish). Meanwhile, in its latest monthly report, International Energy Agency raised its 2022 oil demand growth forecast this week, citing increased demand for oil amid “switching” from gas, as prices surge. Meanwhile, in its monthly report also released this week, OPEC lowered its 2022 demand growth forecast.
FX:USOILShort
by MtICHI
1 hour wave count update of USOILLast week, crude oil prices fell sharply on fears that rising inflation and interest rates will hit economic growth and demand for fuel. The playing field changed this week to the better, however, after softer-than-expected U.S. inflation data drove down the odds of a super-sized Fed rate hike in September and the IEA released a report that called for higher demand. An unexpected drop in gasoline inventories was another supportive catalyst while a sharp rise in crude oil inventories and the possibility of an Iran Nuclear deal weighed on prices. some thought the IEA’s stronger demand expectations would do the trick, but today’s price action suggests it may have not been enough to erase recessionary fears. Experts expect to see an economic downturn but the size and duration are unpredictable at this time. Additionally, evidence this week suggests inflation may be slowing. However, Fed comments indicate that policymakers are likely to remain hawkish while calling for aggressive rate hikes until inflation is subdued. That being said, we’re expecting to see a choppy trade over the near-term until there is clarity about the demand outlook, or unless there is a major supply disruption.
FX:USOIL
by MtICHI
$ATA prime for a movement to the upsideBullish Wolfe Waves can be seen on $ATA enclosed within a triangle which is always exciting. I expect to breakout of this triangle through the fifth wave, retest the broken trend, then bounce up from there to continue the movement to the upside targeting the supply point at $0.2580. Wouldn't be a bad idea to also book some profits along the way at the top of the big inverted hammer at $0.2487. RSI does not looking too bad but it also doesn't look bullish enough to include it as part of the analysis behind this bias. What a shame that I've thought that I had posted this idea before executing my trade, but turned out I didn't. Still not too late to punt in for a long at the retest.
Long
by xcitedDelirium
wave count update 1 hour hello traders a new update of usoil one hour chart is here as a technical view but as fundamental view fed rate hikes tend to drive down demand. And its worries about lower demand that are weighing on crude oil prices. However, the selling pressure is likely to be limited because the supply outlook is still tight. The key support area on the September WTI crude oil chart that must hold is $89.54 to $82.80. Any supply disruption especially in Europe due to the war could turn this market higher easily. However, there is factor that could put additional pressure on prices. That is the Iran Nuclear Agreement. This will bring new supply to the market.
FX:USOIL
by MtICHI
ichimikou analysis of usoil on 4H TF and wolfe wave patterna nice wolfe wave pattern is seen on 4H timeframe and we should keep an eye on the reversal zone of the pattern and any divergence of MACD .we are using overlapped kijensen and tenkensen of ichimikou as target zone when the price is reversed ,depicted on the chart .these target are aligned with wolfe wave pattern structure we also should analyze USDCAD structure and movement as these two pair and commodity are inversely and heavily correlated. Because crude oil exports account for a large portion of U.S. currency that's earned by Canada, movements in the price and the volume of crude oil have a significant impact on the flow of U.S. dollars into the Canadian economy. When oil prices are high, the amount of U.S. dollars Canada earns on each barrel of oil it exports will be high. Therefore, the supply of U.S. dollars flowing into Canada will be high relative to the supply of Canadian dollars, resulting in an increase in the value of the Canadian dollar. Conversely, when the price of oil is low, the supply of U.S. dollars will be low relative to that of the Canadian dollar, resulting in a decrease in the value of the Canadian dollar.
FX:USOIL
by MtICHI
" JP225 " Buy Trade With 300 Pips Target Good Morning Trader's ,, How Are You Today ? Let's Explain Together "JP225" Chart And Reasons To Long From This Area ! 1- What Is The Trend For Jp225 ? Now ,, It's In Upper Trend ,, Because We Break Out The Last resistance Area And Going To Next Level 2- Why We Will Buy From This Area ? We Have Break Out SMC Area And Resistance Area ,, So We Will Going To Target 3- When We Close e Target As Stop Lose ? When The Price Close Daily Candle Down The SMC Area On Chart Any Questions Please Write me On Comments !
OANDA:JP225USDLong
by Fx_Vanguard
" Gold " Sell Trade With More 500 Pips Target Good Morning Trader's ,, How Are You Today ? Let's Explain Together "Gold" Chart And Reasons To Sell From This Area ! 1- What Is The Trend For Gold ? Now ,, It's In Down Trend ,, IF we Break Out 1910 We Will Going To Up Trend To 2070 2- Why We Will Sell From This Area ? Gold Arrive To Strong Zone In Our Strategy And The Power Now For Seller Trader's 3- When We Close The Target As Stop Lose ? When Gold Break Out 1800 With Daily Candle Any Questions Please Write me On Comments !
OANDA:XAUUSDShort
by Fx_Vanguard
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