A small timeframe idea linked to these two ideas:
Possibly in the early stages of an impulsive wave 3, but possibly a dip in price before it gets going.
If price drops below $54,98 then this count is invalid...
An update to this idea specifically:
Thinking that A & B of of a larger Y wave are completed and C of Y could begin soon; the red dashed line on this chart is the monthly bearish trendline below:
All part of larger degree idea here that the...
Brent is breaking above a recent high to form a fresh higher high, after the price retraced and found buying pressure at the 61.8% Fib level.
A close above $68 sees no significant resistance until the $70 level and above.
We're holding our long position since the formation of the double bottom pattern on June 13.
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Hello Traders, BCO/USD Brent Crude Oil 67.450 / 66.363 VS 63.308 / 62.946 Short Term Sell Setup.
Expecting to break the previous Lower High one more time 65.3717 Looking for the TrendLine / 64.450 Break
to start the downside movement towards 63.308 / 62.946 VS 61.446 / 60.564.
Chart clearly shows Oil will see sharp fall.
with the help of LBLS indicator , i check three basic yet effective rules for Entry.
Make sure the candle color transitioned from Black to Blue / Red to Green .
The Strength-meters Here is the example of Strengthmeters with Open Pine code ,it is nothing but group of top performing indicators,Used 7 indicators...
I consider the option of buying from the current levels. The work of a large seller is not visible.The development of sales did not occur after the update of the local minimum. The only disadvantage of the transaction - buy directly into the resistance level. Needs to break through and update maximumby.
An update to this idea >
I thought we'd see a 5 wave down side move but I think that move is now over as a 3 wave ABC; the down channel is broken and this could be the start of an impulsive move towards $70 before the year ends.
Larger timeframe idea here >...
Update to this long term idea >
It doesn't look like we'll see below $50...$47 was my estimate but it looks like a bullish leg has started which could end near the $70 area at the .786 extension and meet the long term bearish trendline (red line).