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Crudeoilwti

Crude Oil - Internals of Wave 3 DownIf Crude Oil does drop after reach 4890 I have plotted the internals of wave 3 down: Pink Waves: A. Wave 1 0.382 of C B. Wave 2 0.5 of wave 1 C. Wave 3 2.618 of wave 1 D. Wave 4 0.382 of wave 3 E. Wave 5 1.618 of wave 4 Green Waves: A. Wave 2 0.5 of wave 1 B. Wave 3 2.618 of wave 1 C. Wave 4 0.382 of wave 3 D. Wave 5 1.618 of wave 4 The larger wave 3 (red waves) was projected from the larger wave 1 in my previous chart to end around 4404 and these internal waves point to 4398
TVC:USOILShort
by Joseph_King
Crude Still Heading SouthCrude spiked on Friday due to an impulsive C wave (in my opinion) from 4647 toward 4890 (0.618 retrace of 5041/4647) on its way to complete wave 2 down. Waves 3, 4 & 5 have been plotted using 1.618 of wave 1 for wave 3, 0.382 of wave 3 for wave 4 and 1.618 of wave 4 for wave 5. No consideration for wave extensions to 3 & 5, so price could go much lower than plotted if extensions to 2.618 occur. It should be noted that wave 2 down can reach as high as 5041 and still be valid for Elliot Wave rules so plenty of upside left potentially (the internal wave 2 of wave 1 hit 5021, way beyond 0.618 of wave 1 at 5041). Holding short positions from 4835-4850 with SL 4897.
TVC:USOILShort
by Joseph_King
2
Crude oil coming closer to Strong supply zonesCrude Oil has been in counter uptrend since june 21st 2017 and will reach a strong supply zone around $50 to $52. I am expecting a reversal from there in 1-2 weeks from today. After the market opens on monday, the crude oil is expected to trade above $47.70 for a few days till it come closer to $50. As it comes closer to $50 expect sellers to step in, and slowly supply will exceed the demand. And as supply get stronger from $50 to $52 a reversal of trend is expected.
TVC:USOILShort
by SunnyPawar
4
Crude in Bearish Three Drives PatternCrude is currently in a bearish three drives pattern heading toward $4820. Current ABC: 1. A wave completed at 4557. 2. B wave should retrace 50% of A wave to 4667. 3. C wave should retrace 1.618 of B wave to 4490. 5 wave set after ABC complete: 1. Wave 1 should retrace 100% of C wave (50% of the entire ABC move) to 4667. 2. Wave 2 should retrace 50% of wave 1 to 4577 3. Wave 3 should hit 1.618 of wave 1 at 4775. 4. Wave 4 should retrace 0.382 of wave 3 to 4699. 5. Wave 5 should hit 1.618 of wave 4 to 4822.
TVC:USOILLong
by Joseph_King
Short Crude Oil at Key Resistance zoneFX:USOIL had been retracing its bearish trend the last two weeks. It is now currently at key resistance zone. Short order set up for the following reasons: Overall trend on daily chart is down Price resisted key resistance zone at 47.00 to 47.75 (previous April 2016 to June 2017 channel support now became resistance) Forming a shooting star candlestick patteren (bearish wick protruding surrounding price action with bearish close) Sufficient confluence to support a short, but due to recent higher low that formed, stop will be moved to breakeven at around 45.00 Minimum of 1.5 RR but potentially > 2RR Stop Entry: 46.73; Stop loss: 47.81; Take profit: 43.72 (2.79 RR)
FX:USOILShort
by cobusvdm
USOIL WTI : 800 Pips opportunity Hey guys ! ** Watch for weekly view below ** Here is a good opportunity to short the crude oil with a potential 800 pips profit trade ( R/R around 6 ) Accumulation of : - Weekly trend ( blue ) - More weekly trend as resistance ( black ) - Others monthly trends ( red ) : far but still active - Fib 68.2 - Fib 78.6 - Resistance zone - Stochastic will be overbought : I will update this idea with a multi time frame stochastic system . As always , I recommand to wait for a reversal sign . Follow me for more ! Good '' luck ''
TVC:USOILShort
by Foralex
4