Joseph_King

Joseph_King Updated 

Possible 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

Joseph_King Updated 

Updated 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.

Joseph_King Updated 

15M 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.

Joseph_King

Long 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

Joseph_King Updated 

Minor 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

Joseph_King Updated 

Target 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.

Joseph_King Updated 

Here 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

Joseph_King Updated 

Internals of wave 3 of 3 of 3. The fibonacci levels seem to match and point to an of this wave at $46,18.

Joseph_King

Crude still in ABC correction, currently in C wave, possibly wave 5 of C. If C complete 1.618 of A then that should have C finish around 4820, if 1.618 of B then around 4805 to complete the larger wave 2. Wave 3 could move 1.618 of wave 1 to 46.18.

Joseph_King Updated 

My intraday targets for Elliot Wave on Crude Oil. Potential to see 48-4820 before the next drop to below 47 levels

Joseph_King

Similar ABC pattern occurring now as on the 15th/16th August after a similar drop and preceding a fall...

Joseph_King

Just some tidying up and try to plot the ABC correction to the fall in price from 4849 to 4706

Joseph_King

Correction complete, should continue waves down

Joseph_King

It appears crude oil is still in a larger ABC correction. Possibly hit 4820 again or 4857

Joseph_King

Update to Crude Oil idea - C (wave 2 down) completed on Friday and wave 1 of 1 of 3 down completed on Monday. Expecting price to reach either 4787 or 4807 to complete wave 2 of 1 before wave 3 of 1 to 4591

Joseph_King

I posted an idea this morning that USD/CAD had more waves down to come to complete the larger C wave, however, spending a bit more time on it I believe the USD/CAD has bottomed and has completed a larger EW cycle and is heading up in a big way. I've plotted the first set of 5 waves up with the 5th wave an extension 2.618 of wave 4, from there a larger wave 2 could...

Joseph_King

Elliot wave for USD/CAD on 1D timeframe

Joseph_King

Elliot wave for USD/CAD on 1H timeframe