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WTI (Crude Oil)

Oil - Zig Zag Correction to $32Between October 2017 and the beginning of 2019, we have seen a 5 wave move from the mid 70's to the low 40's. Any move that starts with a 5 wave move will end with and at least an equal 5 to complete what is called a Zig Zag pattern. The was a correction back to test the bottom of the previous wave. This didn't complete a 5 wave move, therefore this must be a 3 wave corrective move, which is the pattern that sits in the middle of a Zig Zag. An equal move for the top of the 3 wave pattern put the target for oil at $32. This is confirmed by the RSI failing to get over 60 and forming a double top formation. The entry begin the crossing of the RSI moving averages. We also saw a large move in the Composite Index, were price did not follow (purple arrow) and a divergence with the RSI giving weight to the analysis. Any time a indicator moves a great distance and price does not move, and your position is in the direction of the indicator, you are on the wrong side of the market. This target of $32 is very conservative, as some Zig Zag patterns can run to 1.618 % of the first 5 wave move. We won't see oil sit a this level for very long, as Zig Zag corrections are a quick and fast way for the market correct, before making a larger move higher.
OANDA:WTICOUSDShort
by TRADER-RI
Crude Oil Intraday Trade Setup. 28/06/19Hi Trader, I have share Crude Oil Intraday Trade Level. Take Profit - 15 - 100++ Pips Stop Loss - As per your risk profile. I need more like for my effort. For Monday Intraday View and Targets i want 10+ Likes. Intraday Trade View:- My View Short in Morning Session. if rejection happen in 59.10$ - 59.20$ zone means short confirmed as per my view. Targets:- Short Targets 58.85$ 58.74$ 58.54$ 58.04$ 57.54$ Long Targets 59.35$ 59.45$ 59.66$ 59.76$ 59.96$ Hurry Like and Support Me.
TVC:USOIL
by Crude_Trader
2
WIICOUSD SellDear Traders, please, follow our comment on the chart. thanks, Important The analysis and ideas published here, not an investment recommendation or any call to buy or sell, is merely an analysis and a vision based on the study of the history of price movement and behavior which may not necessarily be the reason for the success of the analysis and the model and its repetition and thus the probability of success is quite equal to the probability of failure . So, please make your decision based on your pure vision. Publishing is for the purpose of exchanging, correcting and comparing ideas. in case the market moves with the direction of the analysis and achieve the first objective, there are options for you: First: close the deal and receive the profits. Second: Close the half of the contracts and put the stop loss on entry. Third, the stop loss is moved to the point of entry and waiting for the remaining targets to be achieved. To protect capital and succeed in managing transactions and thus successful trading should not exceed the maximum potential loss in each transaction for the same currency or commodity and in the same direction (2%) of the value of the portfolio. Good luck and good profit. If you have any opinions or thoughts about the analysis we will be happy when you share it with us.
OANDA:WTICOUSD
by iSaleh