Crude Oil Elliott Wave

Updated

Linked to this idea >

Probably nearly impossible to plot a complex correction but this my theory for a possible ABC correction for wave 2, before a big wave 3 to new highs in 2018.

Note

Potential count for tomorrow >

Note

Possibly in wave 3 of C now

Note

A possibility if ABC is already completed >

Note

Looks like and ending diagonal for wave C >

6904 possibly the top for now

Note

Looks like wave W is completed at the 1.414 extension, may see wave X next to around the 0.618 retracement level before the next wave up >

I think it's possible for one more leg up in the wedge though.

Note

I think it's safe to say there is some alternate count :) Need to check

Note

This is either the start of something very bullish, or expanded flat correction and close to completing B wave >

Note

Didn't got exactly to plan but quite well. Close to target.

Note

Target reached

Note

6690 broken, this bullish count invalid now.

Joseph_King

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.