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Oil and Natural Gas

  • #2,661
  • Jan 30, 2017 1:05pm Jan 30, 2017 1:05pm
US Crude 6H Chart update:
Wave ^e must be in 3 waves, abc.
Retraced Wave ^d by 61.8%.
May finally be time to rally toward ~$60?
Cheers, U2
Attached Image (click to enlarge)
Click to Enlarge Name: 170130 US Crude 6H [1].png Size: 43 KB
Wait, or you will be slaughtered!
  • #2,662
  • Feb 1, 2017 5:59am Feb 1, 2017 5:59am
Looking nice breakout...
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2017-02-01-16-58-17.png Size: 121 KB
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -623
  • #2,663
  • Feb 1, 2017 1:59pm Feb 1, 2017 1:59pm
Wolfe wave completion, short @53.80

SL = 54.2
TP = 52.2
RR = 4:1
Attached Image (click to enlarge)
Click to Enlarge Name: oil.png Size: 52 KB
Pride always comes before destruction.... -Proverbs 16:18
  • #2,664
  • Feb 2, 2017 3:23am Feb 2, 2017 3:23am
Quoting Expo33
Wolfe wave completion, short @53.80 SL = 54.2 TP = 52.2 RR = 4:1 {image}
Stopped out at BE, reload @53.85 same scenario
Pride always comes before destruction.... -Proverbs 16:18
  • #2,665
  • Feb 2, 2017 3:38am Feb 2, 2017 3:38am
Quoting Expo33
Wolfe wave completion, short @53.80 SL = 54.2 TP = 52.2 RR = 4:1 {image}
What kind of pattern is that and how you can accurately tell that is over, especially after this sharp upside move? I am not familiar with this theory concept of yours.

Good risk-reward, anyway!
  • #2,666
  • Edited 4:29am Feb 2, 2017 4:17am | Edited 4:29am
Quoting diavolul
{quote} What kind of pattern is that and how you can accurately tell that is over, especially after this sharp upside move? I am not familiar with this theory concept of yours. Good risk-reward, anyway!
Discovered by Bill Wolfe. Probably not the most popular trading strategy but I find it very effective. The pattern should end in the "sweet" zone.

His site here: http://www.wolfewave.com/

There is a good overview in the pdf file on the first page of this thread: http://www.forexfactory.com/showthread.php?t=580759

I didn't pay for the course. Plenty of information out there using google. I tend to stick with the classic Wolfe wave pattern. There are a few variations. Like any technique, there are little nuances that one can pick up by studying 1000's of charts
Pride always comes before destruction.... -Proverbs 16:18
  • #2,667
  • Feb 4, 2017 3:27pm Feb 4, 2017 3:27pm
US Crude 6H Chart:
Triangle revisited.
Ratios look ok.
Cheers, U2
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 170204 US Crude 6H [1].png Size: 88 KB
Click to Enlarge Name: 170204 US Crude 6H XL [1].png Size: 4 KB
Wait, or you will be slaughtered!
  • #2,668
  • Edited 5:31am Feb 5, 2017 5:19am | Edited 5:31am
Speculative net positions are at record high...

last time we saw these levels price was @ $100.++

Supply cut has already priced in, I am bearish on oil...
There's no harm in being smtm wrong especially if one is promptly found out
  • #2,669
  • Feb 5, 2017 7:47am Feb 5, 2017 7:47am
Quoting salifx
Speculative net positions are at record high... last time we saw these levels price was @ $100.++ Supply cut has already priced in, I am bearish on oil...
second that, hopefully we see false breakout where I'll short.
  • #2,670
  • Feb 5, 2017 7:56am Feb 5, 2017 7:56am
New #US Sanction on #Iran made #Oil rolling higher
https://t.co/rSOXgzfIeX
not euphoria follower
  • #2,671
  • Feb 5, 2017 11:02am Feb 5, 2017 11:02am
The new sanctions , are listed on the US treasuries web page. 12 individuals .... Iranian , Chinese , Lebanese. None oil related.
13 companies listed and ( googleable) are mainly none oil industry related !
I dislike media... that portrays the wrong information in a manipulative manner. The new sanctions aren't oil related.
Checked it out on the treasury web page and get googling .
Much love xxxx
  • #2,672
  • Feb 5, 2017 1:10pm Feb 5, 2017 1:10pm
Sell below 54.50
Buy above 52.20
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2017-02-06-00-08-34.png Size: 117 KB
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -623
  • #2,673
  • Feb 6, 2017 12:57am Feb 6, 2017 12:57am
NGAS Daily - setup long from 2.990 towards 4.3700, SL @ 2.8370.
Attached Image (click to enlarge)
Click to Enlarge Name: NGASDaily 6 Feb17.png Size: 56 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #2,674
  • Feb 6, 2017 2:15am Feb 6, 2017 2:15am
Quoting skyhok
NGAS Daily - setup long from 2.990 towards 4.3700, SL @ 2.8370. NGASDaily 6 Feb17.png;2173802 {image}
Gas took a huge beating recently. Another drop would be ugly towards 2.60
  • #2,675
  • Feb 6, 2017 4:01am Feb 6, 2017 4:01am
Quoting skyhok
NGAS Daily - setup long from 2.990 towards 4.3700, SL @ 2.8370. NGASDaily 6 Feb17.png;2173802 {image}
hi Skyhok
hope you are well, oil has been a very tight range the last 2 months, difficult for EW ? any updates .
  • #2,676
  • Feb 6, 2017 11:41am Feb 6, 2017 11:41am
Quoting stylinex
{quote} Gas took a huge beating recently. Another drop would be ugly towards 2.60
It's alright, it's close to wave (c) completion and 2.8370 is the invalidation point.
Elliott Wave for optimum entry, exit and risk management of trades
  • #2,677
  • Feb 6, 2017 11:57am Feb 6, 2017 11:57am
Quoting nutts
{quote} hi Skyhok hope you are well, oil has been a very tight range the last 2 months, difficult for EW ? any updates .
Yes, it's been in tight ranges and there's more to come. Looking at short setup for longer range near 54.60 sometime next week.
Attached Image (click to enlarge)
Click to Enlarge Name: USOilH4 7 Feb17.png Size: 63 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #2,678
  • Feb 6, 2017 3:31pm Feb 6, 2017 3:31pm
Quoting skyhok
{quote} Yes, it's been in tight ranges and there's more to come. Looking at short setup for longer range near 54.60 sometime next week. USOilH4 7 Feb17.png;2175016 {image}
Nice count skyhok...

Take a look at this one too...
Attached Image (click to enlarge)
Click to Enlarge Name: crude.jpg Size: 158 KB
There's no harm in being smtm wrong especially if one is promptly found out
  • #2,679
  • Feb 7, 2017 8:37am Feb 7, 2017 8:37am
Weak demand and rising shale oil production putting oil price under serious pressure.

In my opinion Opec needs more then 2mbpd cut in order to push price higher and re balance the market...
There's no harm in being smtm wrong especially if one is promptly found out
  • #2,680
  • Feb 10, 2017 5:48am Feb 10, 2017 5:48am
Quoting skyhok
{quote} Yes, it's been in tight ranges and there's more to come. Looking at short setup for longer range near 54.60 sometime next week. USOilH4 7 Feb17.png;2175016 {image}
Movements spot on
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