XTIUSD_LMAX trade ideas
Crude Oil: Potential Trade Set UpOn 4 hours chart the structure looks bearish. We have moved down in 5 Waves which could be Wave 1 or A and now it is trading sideways and forming a potential Triangle pattern which could be Wave 2 or B. So the next impulse on the downside can offer a trading opportunity which could be either Wave 3 or C.
CUP & HANDLE IN CRUDE OILTarget is given
Wait for the re-test at neckline
Your encouragement expects with like and support
Crude oil 4 Hour in channelAs the channel was formed at Higher low, so breakout might be at the top of the channel.
It may test the daily demand level (Green dotted line).
Also check lower time frames for more confirmation.
Think & Trade in Probability.
Crude oil hourly forming symmetric triangle patternAfter forming New high & new lows consecutively in hourly time frame for straight one week, currently market forming triangle pattern.
Trade in the direction of breakout, conservatively. Always have a look at higher & lower time frames for more confirmation of the trend.
Think & Trade in Probability.
WAVE C SETUP - WTI CRUDE OILVIEW:
Crude oil appears to be ripe for down move...
Structure/Pattern:
Impulse + correction ==> Impulse ==> wave c/wave 3?
Crude oil Hourly at Buyer range.Demand level and higher time frame supply levels are mentioned in the chart..
Think & Trade in Probability.
Strong recovery possibleSome recovery seen post the crude oil inventory. The supports seen over the last two days seems to be fueling some upside. Repeated attempt to breach supports have proved futile. Now the pus to the upside is indicating possibilities of some rise in store.
WTI CRUDE Short @ 61.1- 61.2 CMP 60.73 TARGET 60.45 - 60- 59.WTI CRUDE Short @ 61.1- 61.2 CMP 60.73
TARGET 60.45 - 60- 59.4 - 58.5+
Crude Buy and Sell PointsCrude look for a sell in the zone of 61.8 to 62.8...A strong closure below 59.4 is indicative of lower prices targeting 57.4 and 55/54.
A buy looks on an intraday basis with a stop loss of 59.4 and target of 61.8/62.8
CRUDEOIL --THE ELLIOTWAVE PERSPECTIVE IN QUESTIONBIGGER PICTURE OF CRUDE OIL ---- AS PER ELLIOT WAVE
Crude oil has been in corrective mode since July 2008.
I had 4 hurdles for crude oil to breach itself to go towards its life time peak...By the time I m posting this...its already through with the 3rd hurdle...
CASE 1:
If crude oil unfolds into motive wave sequence(1-2-3-4-5) and also breaches key level for bulls and bears...It may result in positive structure for crude oil...Bulls will be more confident then on...But this scenario is not good for economies importing crude oil...
CASE 2:
If crude oil fails to breach the key level for bulls and bears... bears may start smelling honey in crude 😀😁😉
As of now bull party🚀 is on...
