Lower oil prices soon by my cycle analysis

4xis2ez

Well-known member
347 53
Oil price will likely drop starting in a few days till about May 12.
oil forum.jpg
 
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sunset1

Well-known member
254 6
I see it has already kicked off I will try and get another entry point.
In your opinion where would you say is the most likely level ?
 

sunset1

Well-known member
254 6
in my opinion we have a high to lower high square out from 63.37 to 63.31 in 36 bars for a sell move and the square root readings are good on a 1 hour chart so it looks good from here at this moment in time
 

sunset1

Well-known member
254 6
good time and price readings an hour ago at15.05 on a 5 minute chart with a high of 63.21 we will wait and see the outcome!
 

sunset1

Well-known member
254 6
well its back to the drawing board for me after my last 2 attempts it is obvious that I am doing something wrong.
I will try again another time as I think I know where I am going wrong.
 

4xis2ez

Well-known member
347 53
Do not try to short until May 5/6. I don't know about price levels to look at.
forum oil1.jpg
 
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hatemypips

Well-known member
456 31
in my opinion we have a high to lower high square out from 63.37 to 63.31 in 36 bars for a sell move and the square root readings are good on a 1 hour chart so it looks good from here at this moment in time
Sounds a bit complicated but I hope you manage this mess and trade in profit. I tend to use naked eye and concentrate exclusively on price action to eliminate redundant signals like ones that came from indicators.
 
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4xis2ez

Well-known member
347 53
Sounds a bit complicated but I hope you manage this mess and trade in profit. I tend to use naked eye and concentrate exclusively on price action to eliminate redundant signals like ones that came from indicators.
You're right. I use daily and weekly charts, sometimes 4 hour. Intraday trading brings much risk. This is why 90% lose.

Oil dropping big now. I guess my next comment will be shoulda, woulda, coulda, but if I had an account to trade options, I would have bought put options after the first big down move day to hold for several weeks.
forum oil.jpg
 
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