Disclaimer

Disclaimer: This blog should be read as a 'whiteboard' of my daily thoughts and ramblings and specifically not, in any way, advice to trade. My interpretation of the works of Gann, Goodman, Fibonacci, Elliott, Hurst et al; is entirely my own and should be read as such. Any opinions, news, research, analyses, prices, or other information contained in this report are provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Sunday 29 June 2014

#Crude Oil $Crude Oil #trading

This is the updated 24 pip range bar chart of Crude Oil: price is trending down and the MACD of the price envelope is looking poised to follow through. I have not added Elliott Wave counts, but am working on the basis, we have seen 'A' down and then a 'B' wave triangle from the top and are now in 'C'. As such I am looking for short entries after strength, when price is below the daily open. For now, price is low into the bolly band, but working its way up into the price envelope. The various trend lines off the PE 'humps' suggest a decision is to be made soon enough.


The 12 pip range bar chart saw price rolling around Friday's daily open and is currently trending downhill. Whether price has more retracement work to do, will be seen tomorrow, and nearer the bolly & price envelope top would be great.
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