Brent Crude Correction Gets Complicated range 43.40-36.99The current move up is not an impulse as its 1-2-3 maybe (A) of yellow ((X)).
Then the correction gets more complex and we will get stuck in the 43.40-36.99 range.
BCOUSD
Brent Crude Consolidation Alternative view - Simple ZigZag downThis could be more simple - just a zigzag
wave (C) could be underway then. It could hit at least the 61.8% of (A) = 39.77 or just below the terminal point of wave (A).
It can go deeper to hit 38.40 where (C) = (A).
Watch reaction in blue box.
Brent Crude Entered Consolidation The target from my last update for this idea was reached at 43.40 - exactly to the tick. I think it's just lucky coincidence ))
Now the market is consolidating within 39.84-43.40 range.
We got sharp wave (A) down in place, which hit 39.84; now the wave (B) is underway. It could retest the former top of 43.40.
Let's see.
BCOUSD Brent Oil possible long day/intraday trade opportunityBCOUSD Brent Oil possible long day/intraday trade opportunity
Brent Crude Futures - Big Map on MonthlyWe can hit between 80-100 in wave B to retrace 50-61.8% of wave (A),
then down to tag the wave (A) termination point.
Brent Crude - Alternative count - double zigzag wave AIt could be a-b-c double zigzag in large wave A.
We got a and b in place and wave c already kicked off.
It's amazing that the trendline support wasn't broken yet.
Possible ideas for Brent Crude OilThe price could move up to take out the liquidity formed above $35.8-ish level, before moving down to mitigate. The.618 fib level matched up nicely with the sell before the buy on the 15 min chart.
The price might then move up to fill inefficiencies in the $45-50 region.
I'm pretty new to this so any criticism would be appreciated :)
BCOUSD - Short on the break Looks like a corrective push back up to the highs.. looking for signs of a big sell off
Brent crude could drop into 31-32 after correctionWe got the first strong move down after a huge impulse up that more than doubled crude oil price and hit the target set at 36.90.
The wave C up in a correction could be over soon and crude oil then could drop into the blue box area of 31-32.
Brent crude: Last wave up is pending 5 of 5 to hit 36.90-38.80The crude oil completed minor correction in wave 4 of (5).
The last wave 5 of (5) is pending now. It could hit the area between 36.90 and 38.80.
BCOUSD - LongWaiting to see what kind of break we get on this correction, believe more upside momentum is incoming
Holding onto my LONG BC34.46OUSD tradeMy BCOUSD LONG trade that I posted some back () has reached its first target and I'm holding until we reach the next line of
resistance at 34.46. There's a huge area of space above this level so it will be interesting to see if price can break through this resistance and push further north. I can see no reason why it shouldn't so let's see what happens over the next few weeks.
All Major Indexes ComparisonAfter some major Correction/Crash on the major Indexes such as SPY and Gold and Bitcoin, now all of the worlds are bearish on the markets.
But as you can see chart says nothing about Financial Crysis, Depression, ... .
Because of that, I think these Indexes probably have seen their lows. although there could be a correction in the way I don't think they will see new lows.
This chart is open:
www.tradingview.com
Brent Crude updated map - 5 of 5 upThis structure looks better.
The wave 4 finally I revealed the key for it as it unfolded with wave C as an ending diagonal.
Brent crude: updated map of current consolidaionThe wave (X) took so long to unfold but at the end the structure is quite simple double three.
Another drop should follow to complete the WXY correction.
OIL LONG -UPDATE- (BCOUSD)MA golden cross / closed above both MA
Could surprise us here
R/R is not bad
GL
crude oilwe see that we had rejection on 27.214 the price is testing a good poc lvl if it break it , its target should be the next lvl , enter after confirmation
Brent Crude Oil; look out!Moving averages awfully tight now. 50 (teal) has proved strong resistance before.
But, we do have some support. That said, the more support there is to break..the more it can fall :)
We will have to wait for an answer but, keep eyes on close
Brent crude: Updated map - impulse up is still in progressIt looks like there wave 4 is building within double three WXY (yellow). (I warned about it in the update below the idea )
Wave X is in progress. It can hit former top of 32.21 before reversing down to the valley of 28.66.
It's rather a sideways range trading. The market accumulates power to continue further up in wave 5 into the blue box.
P.S.
One could wonder, hey @aibek, why do you update brent crude so often and change the map in the opposite direction?
The thing is that the market is not static and more time elapses the more information we get.
This eliminates certain probabilities, that we build and creates new options for structure development.
And it is a constant process of changing with the chart as it always moves to the right ))) (old traders' joke).
