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Kirahehe
26 sept. 2022 13:51

start of a new cycle? Long

WTI CRUDE OILTVC

Description

The ending diagonal seems completed at 1.236 fibonacci extension of Wave W to Wave X. I would like to see the high of 86.66 and 90.17 to be taken out as confirmation for high probability trade which shown in figure. The figure was taken from Jeffery Kennedy's book. Whether this is the start of Wave 3 of higher degree of Wave 5 or Wave B of 2 is not yet known. For now, i would assume this is the start of Wave 3 of light blue.

Commentaire

yesterday was a little early, and perhaps im a little excited that i failed to noticed that price actually making expanded flat on wave 4 purple. if price able to break the high of 80.29, the invalidation would be at 76.23

Commentaire

not so confident but i'd give it benefit of the doubt

Commentaire

i'm not sure if the third wave of purple has complete or not as it has reached 161 extension. however, i think that one more push to the upside to area of 261 extension as the first wave is leading diagonal in order to complete the third wave. Usually, if wave 1 is diagonal, wave 3 tends to be extended.

Commentaire

or maybe area of 200 extension

Commentaire

Incase of wave 3 purple already complete,
Commentaires
Tron029
Neat Chart & good explanation on Elliott's Theory.
Kirahehe
@Tron029, Thanks :))
Tradersweekly
Thanks for your opinion. Good luck to you!
Kirahehe
@Tradersweekly thanks! You too :D
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