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Oil and Natural Gas

  • #2,921
  • Jul 17, 2017 2:13am Jul 17, 2017 2:13am
USOIL H4
Medium-term short towards 43.00 in forming wave 2 of ending diagonal c yellow
Attached Image (click to enlarge)
Click to Enlarge Name: USOil 17Jul17.png Size: 88 KB
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  • #2,922
  • Jul 17, 2017 8:52am Jul 17, 2017 8:52am
Quoting skyhok
USOIL H4 Medium-term short towards 43.00 in forming wave 2 of ending diagonal c yellow {image}
Thank you Skyhok,
Great day to you.
  • #2,923
  • Jul 17, 2017 11:16am Jul 17, 2017 11:16am
first scenario
https://charts.mql5.com/15/627/ukoil...es-limited.png

second scenario
https://charts.mql5.com/15/627/ukoil...es-limited.png

i tend to be neutral in this commodity
  • #2,924
  • Jul 19, 2017 7:01am Jul 19, 2017 7:01am
Quoting kprsa
{quote} I reviewed my calculation of the resistance yesterday, there is another possible one just above the current maximum imo. So I think this could be a double top pattern with the second top a few cents above the previous one. Cheers, k
Still waiting for this, it could come to pass during the news today.

Cheers,
k
  • #2,925
  • Jul 19, 2017 1:04pm Jul 19, 2017 1:04pm
Quoting kprsa
{quote} Still waiting for this, it could come to pass during the news today. Cheers, k
Sold...
k
  • #2,926
  • Jul 19, 2017 1:12pm Jul 19, 2017 1:12pm
[email protected]
[email protected]
Attached Image (click to enlarge)
Click to Enlarge Name: OIL-SEP17H1.png Size: 21 KB
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  • #2,927
  • Jul 19, 2017 1:34pm Jul 19, 2017 1:34pm
Quoting kprsa
{quote} Sold... k
nicely done kprsa, what is next? 43 as per skyhok?
  • #2,928
  • Jul 19, 2017 1:44pm Jul 19, 2017 1:44pm
Quoting medvic
{quote} nicely done kprsa, what is next? 43 as per skyhok?
I think the oil should go down about 10 dollars. I have multiple targets, one just above minimum on the 21st of June, and some lower (I may also exit part of position before weekend). However, if it goes more than cca 5 cents above the current maximum, my idea is wrong...
k
  • #2,929
  • Jul 19, 2017 2:14pm Jul 19, 2017 2:14pm
The WTI Crude Oil market initially shot much higher during the day on Tuesday but found enough resistance near the $47 level to turn around and form a shooting star. I believe that a lot of traders stepped out of the market as we await the Crude Oil Inventories announcement coming out today. Simply put, this will be a volatile session but I believe longer-term I still have quite a bit of bearish pressure in this market. With that being the case, I look to sell rallies, especially if they feel near the $47 level again. A break above the $47 level could send this market towards the $48.50 level. Alternately, I suspect that we are going to go down to the $45 level, possibly even lower.
SOURCE
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  • #2,930
  • Jul 19, 2017 6:57pm Jul 19, 2017 6:57pm
watching for bearish signs now for trip to 43.5 area.
  • #2,931
  • Jul 19, 2017 7:38pm Jul 19, 2017 7:38pm
Quoting bladerogers
watching for bearish signs now for trip to 43.5 area.
there..you'll...see...a..horror..film?
like..u...do...not...see..the...price...Now.
close..to...48.
what..are..u...talking..about...exactly?
plz...illusion...of...yourself...and....do..not...write..here..
tnx
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  • #2,932
  • Jul 20, 2017 1:45am Jul 20, 2017 1:45am
Quoting nesta
{quote} there..you'll...see...a..horror..film? like..u...do...not...see..the...price...Now. close..to...48. what..are..u...talking..about...exactly? plz...illusion...of...yourself...and....do..not...write..here.. tnx
That has got to be one of the most quizzically useless comments ever made in this thread.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #2,933
  • Jul 20, 2017 2:56am Jul 20, 2017 2:56am
I placed a small short at current price 47.20 but note that the oil is trying for a third time to break the resistance at 47-47.40 range and if it manages it will go to 48.20$, I guess the stop loss should be at around 47.50
  • #2,934
  • Jul 20, 2017 6:35am Jul 20, 2017 6:35am
Quoting nesta
[email protected] [email protected] {image}
tp..close..to!
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  • #2,935
  • Jul 20, 2017 6:37am Jul 20, 2017 6:37am
Quoting kprsa
{quote} I think the oil should go down about 10 dollars. I have multiple targets, one just above minimum on the 21st of June, and some lower (I may also exit part of position before weekend). However, if it goes more than cca 5 cents above the current maximum, my idea is wrong... k
yep, wrong. Now, if it soon turns down, it will not make new minima imho but will eventually trace along skyhok's scenario...
k
  • #2,936
  • Jul 20, 2017 12:39pm Jul 20, 2017 12:39pm
USOIL H4 An expanding flat wave [2] correction in the making, with wave c eventually reaching 43.00 is highly likely.
Attached Image (click to enlarge)
Click to Enlarge Name: USOilH4 21Jul17.png Size: 46 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #2,937
  • Jul 20, 2017 1:15pm Jul 20, 2017 1:15pm
Apff I put my stop loss too low, damn I knew a correction was comming
  • #2,938
  • Jul 20, 2017 6:09pm Jul 20, 2017 6:09pm
Seems better to stay on the sidelines now than to enter the oil markets.
I look for value wherever it can be found
  • #2,939
  • Jul 22, 2017 2:20am Jul 22, 2017 2:20am
Quoting kprsa
{quote} I think the oil should go down about 10 dollars.
How it currently looks like to me:
k

Attached Image (click to enlarge)
Click to Enlarge Name: IMG_0009.PNG Size: 260 KB
  • #2,940
  • Jul 22, 2017 6:44am Jul 22, 2017 6:44am
Hi all ,

To make our view easily understandable , lets trade on demo account with same amount of capital and explain the reason for every trade so that everyone can learn from that.
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