Crudeoilwti
Crude oil - Longs Daily US crude oil longs in play - In my view, the weekly bearish trend is broken and the daily trend is now in a bullish structure. I see oil reaching 50s before stopping for another pull back then rallying again to 52s.
Crude Oil - 15M View with Elliot WavePossibly a flat day on Monday as Crude goes through wave 4 of wave 1 down. Possible retrace to 4772 (.236 of wave 3) or 4801 (.382 of wave 3) before down to 4648 or 4678 (2.618 of wave 4 depending on where that wave completes).
Crude Oil - UpdateUpdate to previous 12345 waves down chart with a bit more detail. Wave 2 complete (4559 to 4941), wave 1 of 3 underway possibly.
Crude Idea with Elliot Wave (ABC)One of two ideas, this one an ABC. B completing at 0.786 of 5041/4559 at 4941, C to 1.618 of A to 4262
Crude oil history in the making!The price of WTI oil has reached historically important level. Tomorrow, either the fact that the price of oil will begin a new stage of the fall will be confirmed or come to a new level and continue to grow!
I definitely do not believe that the price will grow and I will trade tomorrow using weekly report on live session! Join, let's do it together! You can see my last trades on the reports on Youtube (look for Kate Wess).
Thank you for your attention, you are all cool)
15M count for Crude OilLooking at the count for wave C.
* Green waves (5 waves within C) 1.618 of wave 4 ($47,20 to $46,91) is $47,37
* Blue waves (internal waves of wave 5 of C) 1.618 of wave 4 ($47,31 to $47,21) is $47,37
Is a down move for Crude Oil dead?Possible that we're in an extended wave 3 down with an internal wave 2 completed at $47,44 on 31st August. If early next week $47,44 is broken above it will invalidate my count. Based on 5 minute count of the ABC within wave 2 (orange waves) $47,40 could hit.
Potential Path for Crude Oil Over the Next 2 YearsCould see a bottom to the current down trend at $42,85 - Intersecting major trendlines at that price as well as wave 4 up and C level at that point (red waves).
The waves up from $42,85 are plotted using 0.382 retracement of the ABC correction from $55,04 and $42,85 (red waves) which has an ending point for wave 1 up from $42,85 at $47,81. The rest of the waves are plotted using standard Fibonacci levels, i.e. wave 2 0.618 of 1, wave 3 1.618 of 1, wave 4 0.382 of 3, wave 5 1.618 of 4.
Zoom in and out for detail.
Crude updateUpdated waves to complete the larger wave 3 by plotting waves 2 to 5 internally.
Waiting to short 4630.
Crude UpdateAn alternative to the recently posted ABC. Same outcome at 4680 but different internal structure based on a slightly different count of the 5 waves with A.
I think this one is more likely.
Crude UpdateMade a mistake yesterday with a miscount of waves, I thought we had a move to 4715 but we'd already started 5 waves down, managed to catch the end of it though.
Another ABC today but part of the larger set of 5 waves that started from 4873. B could complete at 4602 which is level with the 4th wave up within A. 4680 could be next which is 0.382 of the wave 3. After that should continue down for wave 5 estimated to complete at 4405.
No position at the moment, waiting to buy wave C and sell the top of it.
Crude UpdatePossible move up to 4715 to complete C wave before down below 46.
Holding a long position from 4655. Plan to short around 47 for 4560 approx.
Alternatively could be in wave 3 down already. Stop Loss is 4635
Crude UpdateUpdated ABC correction as the 5 waves up within A were much steeper than I previously plotted. Possible ending of B & C waves plotted for the end of wave 4 down, wave 5 down to follow in the region of 4560 depending where C of 4 completes.
No position at the moment, waiting to short the end of C wave.
"Good luck bulls!" #OIL#IS#GOING#DOWNTill the and of week I'm waiting for it at 44.20 at least.
It's good position for Binary and Forex traders
Oil - Down
Crude Update15M view of the correction to wave 3 down (pink waves). Wave 1 of A would normally complete at 0.382 of the previous wave 5 down, rest of the waves as standard fib levels; wave 2 0.618 of 1, wave 3, 1.618 of 1, wave 4 0.382 of 3, wave 5 1.618 of 4. B 0.382 of A, C 1.618 of A.
Crude UpdateLong now from 4617 and 4622 looking for 0.236 or 0.382 retrace of wave 3 (pink waves) at either 4660 or 4690. Plan to close there and sell for the final wave of the larger wave 3 to around 4565-4584
Crude UpdateMinor changes as wave 3 down extended beyond my original target. Three potential targets for the larger 3rd wave, 4628, 4618 and 4585 but 4618 the most likely in my opinion as it's 1.618 of the larger wave 1 (blue waves)
Holding shorts from 4760, 4780 and a few between 4802-10
Crude UpdateTarget hit early this morning for my new short entries; added between 4802 and 4810 and since then price has started moving downwards, appears to be in a correction of the move from 4816 to 4734 at the moment and I would expect it to complete at 0.5 (4771) or 0.618 (4881) of wave 1 down, before beginning wave 3 of 3 to 4618.
Crude Bigger PictureHere is my Elliot Wave projection on a larger scale. In my opinion $47,99 (0.618 of wave 1 (pink waves)) or up to $48,25 will hit early next week which could be a great short opportunity to hold to the $41 region.
Holding short positions from $47,80 and $47,60 and will add a few more as price creeps up toward my target of $48-48,25
