Summerset

Summerset

There is a rounding bottom pattern confirmed on the 4-Hr chart Buy Market in (10)k s all the way down to 1.1365. Stop 1.1290. Target 1.1460 then 1.1570 Rounding bottom is a very strong pattern, & this one is confirmed. Take Care & Stay Safe

Summerset

Oil futures for August expired last Friday. And even though traders should have been clearing long contracts before expiry, price failed to drop < $40. (prices barley spiked to $40.06 on Thursday & $40.11 on Friday). This shows that producers / suppliers are providing massive price support @$40 levels. There will be No serious re-test of $40, before $47-$48 is...

Summerset Updated 

Expect the ending diagonal (whose strength I had previously underestimated) to continue until ($42.20-$42.50). This should then complete the uptrend in wave 3v or a wave-5. Currently holding 0.8 contract short averaging $37.52. Amend (10k) entry short limits from < $41.40-> $41.80 > zone to the < $42.30, $42.40, $43.50, $43.60, $43.70 > each entry at 10k to a...

Summerset Updated 

Leg - A of a correction appears finished. -ve Momentum on 15 min frame is not sufficient to warrant an extension in this correction. I therefore expect to see a Leg-B to the $41.60 region, followed by an extended grand "C" in A-B-C formation to my desired targets <$36-$34> OR possible still to see a muted "C" after the coming "B" into the $41.60, then an "X" and...

Summerset Updated 

I expect the above bear motive count to have effected (15-min chart above). - a local H&S is building up in 3iv I am planning to improve my short portfolio as follows:-In case there is a spike in prices (wave-4) Sll 10k @ 38.80 Sell 10k @ $39.30 Sell 10k @ $39.60 In case there is a spike in prices (wave-4) Sell 10k @ 40.30 Sell 10k @ 40.50 Already holding 0.8...

Summerset Updated 

Last Friday witnessed rejection at the lower Elliot channel boundary. A 9-wave Elliot extension has now partly completed, and will confirms once negative momentum breaks on the 4Hr frame. (very probable, as there is already trending -ve momentum on the Hr frame ). Amend targets for short holdings as follows:- Once $36.00 is broken, pace an SL on all holdings...

Summerset Updated 

Expect the correction to be concluding in an ending diagonal formation as shown on chart. There is still a mild chance to see <$39.3/66> in a spike of leg-e, though I don't think it will materialize. Hold shots averaging $37.52 <36.70-38.40> for a 1.2 standard contract size to target $32.50 Add 30k short entries @ $39.30/40/50 (if / when seen). If short entries...

Summerset Updated 

All short limits should have filled to a short holding of 1.2 standard contract - averaging $37.325 Position dynamics explained on chart. I will be implementing the Risk Assimilation matrix outlined on the chart (Black box). This is a money management technique used to securing a position without the use of stop losses. Currently place limit sells at 10k @...

Summerset Updated 

Short Holdings should have been adjusted to ~ 1/2 standard contract per $10,000 account. the strategy on the position is outlined above. take Care & Stay Safe

Summerset Updated 

accumulate limit long for 1/2 contract size as follows limit 10k buy @ $36.00 limit 10k buy @ $35.90 limit 10k buy @ $35.80 limit 10k buy @ $35.70 limit 10k buy @ $35.60 limit 10k buy @ $35.50 Target for all @ $37.80 No stops - prepare to hedge shorts @ $34.00. Risk : Reward, about 1:1. Don't chase the market. If you miss the trade, remember its a Friday, and...

Summerset

The current leg of the down trend appears finished, and ran between ($40.4-$34.21). Its 61.8%-38.2% fibs are between $36.74-$38.10. Incremental Limit sell orders covering these values, should have already been placed on standby in the past idea. (I think it was idea#18). Target $33.00 Add the following short orders to engage, if prices break > $39 10k @...

Summerset Updated 

There is a 5 wave motive clear now on the hourly with the above count possibilities. If you are a conservative trader, it is best to use the conservative count (1-5), and update short limit entries in accordance with the latest update on idea # 15. If you are some what aggressive use the count (3i-3iii), then market should be doing a 3ii to sell in today. Place...

Summerset Updated 

There is enough -ve momentum now on the 5/15min TF to show possibility for an extended correction. Sell 1/3 standard contract @ $ 39.50 to target $ 36. No Stop loss Try to accumulate 1 standard contract for an $10000 account. The entry @ $39.50 will then be the 1st entry, expect to add two more. That's why there is NO current stop. Stop to be placed after all...

Summerset Updated 

The triangular correction has shifted to that shown on chart Close all pending longs at market for profit Compile another long position (1/2 contract through limit orders @ Buy 10k @ $37.90 Buy 10k @ $37.8 Buy 10k @ $37.7 Buy 20k @ $37.6 Buy 10k @ $37.5 TP for all @ $ 39 Take Care & Stay safe

Summerset Updated 

Buy half contract market <$36.85/90> Target $39 SL $35. Risk = -$1000/ standard contract . Profit $ 1000/ standard contract Take care & Stay Safe

Summerset Updated 

The market is doing an extended wave -3 - probably to fill the gap on charts to $40-$42 Always buy the small support ledge that forms between <38.2%-61.8%> pending every minor motive wave that extends on the 1hr chart (can be Elliot detailed on the 15 min) Accumulate to close all at $40 Currently compile 1/2 contract longs at:- 10k $36.10 10k $36.05 10k $36.00 10k...

Summerset Updated 

Buy market <$35.50> to target $37.50 - Stop $34.50 Size 1 contract Keep stop just below pin bar at pennant's beginning

Summerset Updated 

Buy a coming retraction into wave-c of this ascending triangular formation. place limit buy orders to accumulate 1.2 standard contract per $ 10000 account Buy 10k @ $ 31.30 Buy 10k @ $ 31.40 Buy 10k @ $ 31.50 Buy 10k @ $ 31.60 Buy 10k @ $ 31.70 Buy 10k @ $ 31.80 Buy 10k @ $ 31.90 Buy 10k @ $ 32 Buy 10k @ $ 32.10 Buy 10k @ $ 32.20 Buy 10k @ $ 32.30 Buy 10k @ $...