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A Possible Bearish Shark ....No longer! See Comments why!If reversal here at the 2.90ish and a gap close there is a possibility of a Bearish Shark ------------------------------------------ Have sold at the second spike at 2.14. Entry was at 2.89. It looks more bearish now. No follow through and a full retrace of spike. I doubt we'll see the Bearish Shark. Next possibility is a Bearish Cypher. That will retest the 1.272 or a test of recent lows at the 1.618 fib. I could see that coming with a close under 2.89. I'll will re enter on strength ! Safe trading here ladies and gents! _________________________________ Time will tell Safe trading ladies and gents! @BLawrenceM
U
by CoinedByCrypto
8
Oil "Going higher" ?First of all Bull flag! Many E-wave combinations right now .... this is though what I see the most ... "We're going higher" testing red overhead resistance So the chart is subject to changing wave count! Not altimate count! Have to clear EMA 34 and the the sky is open for the test, but price will maybe stay there for ½ to 1 hour before ema13 have moved closer to a cross over. Price can even retest the blue line again! So nothing for sure ... but my best guess right now. Positive divergens on RSI and AO indicator Safe trading ladies and gents! @BlawrenceM Music at work: www.youtube.com open.spotify.com
ULong
by CoinedByCrypto
7
"Caught up" in MA's rhythm .. Dancing shoes off the shelves!!! For me...a lesson was learned today ... Have to do the TA on the security instead of the derivative. Oil looks ok see USOIL chart below: -------------------------- Futures are decisively lower after close of market than the lower trendline drawn in. So last chance for the E wave count would be to attach the lower trend line to the B-leg wick that gives a tolerance for a drop to the 3.20. See chart below It would take a "good" API report to bring it up closing the gap..... and go further!!! ---------------------------------------- Written yesterday before close ---------------------------------------- Seems like E is done today and wave C up can begin. Due to the negative sentiment.... we could see a gap up tomorrow. That would spark the short squeeze needed to get oil up to target.... wave 4 of lower degree. Low risk entry with a stop at 3.32 Safe trading ladies and gents @BLawrenceM Music at work: www.youtube.com open.spotify.com NB The white B is missing at the top of 4.13 (see chart underneath)
ULong
by CoinedByCrypto
6
Oil... U have "No Enemiesz" in those dancing shoes!A follow up (dance)chart to my other bullish ones. Here I see a potential ABCD setting up with a huge reward. Notation on chart...but ..: Entry at 3.56 Riding it to PRZ Stop at 3.33 Safe trading ladies and gents I'm not saying oil stop at the 127.2 or the136.2 extension. It could go as far as the 161.8 - but I make no promises. What I say is...take some chips off around the mentioned fibs. Time will tell..... as always @BLawrenceM Music at work www.youtube.com open.spotify.com
ULong
by CoinedByCrypto
5
"Somebody" sees Oil/Crude//UWTI has bottomed? Bullish EW-countOn the 4 hour chart I see the following bullish signs: Red W3 and W5 was made on a positive divergens Orange W1 was 5 waves up Orange W2 is a triangle that needs to make the last E-wave (That could be very brief back to the 50 fib line or less - the 61.8 that makes a 38.2 retrace (very common) EMA 13 has crossed EMA 34 The count above is the very bullish count We could as well just see an ABC up instead of 5 waves up - Time will tell! Safe trading ladies and gent! @BLawrenceM Music at work: www.youtube.com open.spotify.com
ULong
by CoinedByCrypto
1
When USOIL SNAPs Back you'll "Dance to the Rhythm"!!Almost there ... have your dancing shoes ready! The question is...... at fib 78.6 or the 88.6 fib retrace? I'd say we'll very soon see a bounce (remember it's a monthly chart) and a possible retest a little lower at around 42. BUT could make a possible bottom here. The instrument is right now more oversold than ever before when looking at the the monthly RSI but a flattening has started. For finding a similar oversold situation you have to go way back - to the 86 crash to see same RSI level. Safe trading ladies and gents! @BLawrenceM Music at work www.youtube.com open.spotify.com If you find my charts useful - consider following me on Twitter. I do updates there on my TV-published charts and annonces quick scalp plays all day long.
NYMEX:CL1!
by CoinedByCrypto
1