Pranav_Shandilya

Pranav_Shandilya

CRUDE OIL is currently trading at fib levels and has macd divergence which indicates the downfall may just be over. To be sure, keep a tight stop at 46.53 . In my humble opinion, it will not go below that. If it does, close all positions and wait for a buy call again.

Pranav_Shandilya

The zone indicated by the box represents a strong resistance zone. MACD is showing divergence and there is a good possibility of a meltdown at that level. Do not take a trade at the blue zone. Wait for the price to bounce downwards from the level and if it does, wait for an upmove (retracement) and short it on a smaller timeframe.. Preferably 15min. Good luck.

Pranav_Shandilya

Although the market seems to be "holding on", it should not be mistaken for a wave 2. I strongly feel that a deeper correction is still due. We will see the prices go lower and then take support at fib levels. The reasons have been mentioned on the chart. If you still feel bullish about the oil prices, I would ask you to wait and see how it might react before you...

Pranav_Shandilya

There are two important things to observe in this chart, an expanding diagonal C wave within wave 1 and an extended wave 3. Since wave 3 is extended, wave 5 can be equal to wave 1. If an extension is put up, we see that wave 5 can end just ticks above wave 3 which in my opinion, happens often when wave 3 is extended. Anyway, the bottom line is, we can expect to...

Pranav_Shandilya

The wave counts have been achieved with fibonacci ratios. The interesting thing about this chart is the irregular wave 2. Because of that pattern, I had been expecting wave 4 to be simple and sharp. That has been achieved. I was also expecting the wave 4 to correct deeper. But it seems took support at the 0.236 fib retracement which is not unusual, but unexpected...

Pranav_Shandilya

In this stock, we can come up with two strong wave counts. The pink one represents the actual wave count and the blue one the alternative count. I had to use various fibonacci levels to come up with these counts. The wave five of actual wave count is an ending diagonal in my opinion (3-3-3-3-3 wave structure) and hence indicates that in the longer term, prices may...

Pranav_Shandilya

Monthly view of AUDCAD 1. Wave A is equal to wave C which reaffirms that fact that it should either be a correction wave set or the wave of a wave 1. (Price 1.07679) 2. Both wave A and C form diagonals. 3. In the wave 'b' of wave (i) of 2, the high (1.0352) had a direct fibonacci relationship with the starting point of wave 2 which makes wave 'b' a subwave of...