Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Crude recently potentially completed a 5 wave move down, blowing just below the major low pivot (green arrow to the left). It has since possibly found support at that pivot, now a distant LSP, and has the potential to complete a wave C into the red "zone".
As always, watch volume, watch the short term trends, etc.
Just since I first posted the daily chart, crude rallied over 90 ticks... I don't trade at night, so nothing lost, but we now have a very strong 6-range reversal.
I ride the upwaves on a range chart and watch the higher timeframe chart to see which way I am going. What I posted are some of the charts I watch, and I always have a daily, 93 minute, 30/60 minute to see where I want to go.
So, I have not taken 400 ticks, but catch 50-60 per day as an average.
This potential wave C is not dead yet. Crude has tested the area around 83.00 three times now, and has possibly formed the base of support needed to push through the stop losses above the high pivot of wave A, retrace (or not), and continue on to the minimum target zone.
