WTI crude oil price show sideway triangle correction after sharply down finish move from zigzag correction I waiting for OPEC report that soon gonna change WTI crude oil price back into up trend move
ADX more than 30 and price above EMA20 indicate market is on trending phase also price action that you can see on 4H chart bullish engulfing above previous resistance 2RR use for this entry
After clear impulse up wave 12345 now price is correction down quite strong so I assume this correction might be Zigzag pattern to confirm entry this short I check in 4H chart that show high volume of bearish engulfing candle stick For take profit there are many scenario to happen maybe C leg is not go below A So we can manage to close position partially...
Wyckoff accumulation schematic with volume analysis is show possibility that price will move to another zone last move up swing price moving up with high volume + gap up that show strong demand also by fundamental AUD is considered as commodity currency so I set RR at 4 that possible in this set up
I don't think WTI oil price become down trend in war situation on 4H chart price is on demand zone AB=CD bullish pattern is used in this trading entry Maybe this is another loss because I don't wait for reversal candle to confirm If price cannot stand in this area it will change of character to be down trend but I think in this kind of situation WTI not likely...
On daily time frame you can see down trend line On m30 time frame I see impulse wave is clear so I expect correction opening candle is bearish so I use this as entry confirmation also momentum indicator confirm bearish divergence
fundamental still bullish in war situation so we bias to buy In my view new 1-2-3-4-5-A-B-C cycle is happening wave 1 is leading diagonal (this is very clear) by Elliot wave rule wave 2 cannot go down below wave 1 So we use this rule to set our set set up with 2 RR If wave count wave right price should not go below wave 1
Big time frame show down trend In my opinion correction is over and price seem to continue go down Flat correction ABC and head and shoulder look confluent so I used it entry this order 1.200 is target with about 2 RR
Retail traders who don't use leverage will survive from last down move to 25,000USDT Retail traders who don't use leverage don't get liquidated but they feel like their money is lost so many days (65 days from last price move from 30,000 to 25,000) They will sell to get cash back because it feel comfortable like they get money they lost back Also Elliott wave...
Oil has unsurprisingly opened higher this morning after Hamas launched a large attack on Israel over the weekend to which Israel has retaliated. Also 4H chart wave analysis looking good to bet from this area expect wave 3 to come big gap act as strong support is used to confirm this entry
4H Elliott wave plus fundamental analysis is confluent If you read fundamental article you almost cannot see any institution recommend to buy in this area 5th wave Ending diagonal wave is clear I think it very good RR to short in this area by using gap down as entry confirmation because we expect 5 move sub wave of Zigzag to come However there 2...
Oil price show clear impulse wave analysis I think Zigzag corrective is already finish by the Elliott Wave Theory rule that Wave C structure is : - 100% of Wave A: This means Wave C is the same length as Wave A. - 161.8% of Wave A: Wave C is 1.618 times the length of Wave A. Sometimes, Wave C can even extend to 200% or 261.8% of Wave A, though these are less...
price drop as USD index is super strong up trend But compare AUD with other currency is different because this currency show sideway but other currency is going down very strong COT report show that commercial player is open long position This price is demand zone normally it ok to bet this area I also see that TD sequential count 9 on demand zone with pin...
on 4H chart after strong down impulse wave now price show Elliott wave triangle correction If we count wave correctly price should go up another leg so we place Long position with 2RR also in smaller time frame at 1H you can see bullish engulfing to confirm this entry
By Wyckoff logic selling climax might already pass so mean reversal strategy use in this trade setup momentum bullish divergence indicator such as ROC and MACD confirm this entry
Inverted head and shoulders pattern break out and now retest neckline If you check COT report you can see commercial that considered as biggest player in this game is on long side Also gold price is up AUD is considered as commodity currency have positive correlation
m30 chart show gap up and now retrace to 50% fibo. level Also COT report show that big player is on buy side Open interest also moving up so this is ok level to be with 1.5 - 2 RR ratio
m30 bull flag patern with wih bar to confirm entry TP1 is Point of control in volume profile indicator TP2 is minimum area when bull flag break out