Wednesday 6 November 2013

WTI OIL on target

Hi Traders,


Before getting into the analysis of the WTI OIL, don't forget the incoming:


ELLIOTT WAVES BOOTCAMP


When: Thursday, NOV 14

How Long: 9am-1pm + 2 pm-6pm (8 hours)

Subject: "MASTERING THE SECRETS OF ELLIOTT WAVES AS A PROFESSIONAL TRADER".

Location: City Index Sydney.

Price: $650 (down from $1385)

To RSVP: click on "HERE" to be re-directed to a Payment Gateway. 


  • For further information call Richard Vatner at City Index: 02 9270 3618.




DESCRIPTION

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  • Spot the major turning points.

  • Identify profitable long running trades

  • Identify and avoid bad losing trades

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  • successfully master the "Wave Oscillator" to identify safer entry/exit points.



To RSVP: click on "HERE" to be re-directed to a Payment Gateway. 


  • For further information call Richard Vatner at City Index: 02 9270 3618.

...




THE ANALYSIS: WTI OIL on target


The WTI OIL (now at 93.74) is almost on target.  The last wave of the daily chart displays 6 red candles and the weekly chart 8 red candles, meaning that a old downtrend is kicking the bucket and the new uptrend is imminent.


TARGETS

First: 93.10-92.67

then 

likely: 98.83-99.09
possibly: 100.13-100.30
maybe: 102.41-10219

ELLIOTT WAVES

The old downtrend is made of major wave 4 (weekly & daily charts) which, in turn, it's a 5-waves-downtrend (in the daily chart). It might touch the lower boundary of the channel soon.

The last wave of the 1-hour chart displays only 4 small ripples downwards (in green) of the lowest possible grade (out of 5).

The 5th one should take the OIL to the area 93.10-92.67. Then new uptrend should start.

NOTE:

Enter after a confirmation of the "wave oscillator" 
on the 1-hour chart.
Also, out of curiosity, check the timing on the monthly chart.



Monthly chart, click to enlarge







Weekly chart, click to enlarge





 Daily chart, click to enlarge





Wave oscillator applied to the daily chart, click to enlarge





4-hour chart, click to enlarge






wave oscillator applied to the 4-hour chart, click to enlarge





1-hour chart, click to enlarge





wave oscillator applied to the 1-hour chart, click to enlarge

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