Quick hit n run [risky] shortBearish Wolfe Waves forming inside an ascending wedge.
I would wait for price to break the upper Value Area of the volume profile of the current trading range to confirm short entry .
RSI but looks ready for a little move to the downside. Golden pocket on the fib marked as well.
Will trigger myself a high leverage short taking targets first at the golden pocket, then according to reaction on POC and VAL of the volume profile I will decide wether to book more profits / close position or not.
Wolfe Wave
first 111 then 106wave count of the pair is seen on the chart and the pair is trying to complete its 5 impulse wave toward 111 and then retreating toward 106 or even 103
now the pair is making its 5th wave
target are getting from ichimikou overlapped tenkensen and kijensen on 4H and 30 minute
a wolfe wave is also seen that helps us better understand wave structure
please see and share your comments
Russia seaborne crude ban on December5th,1.4 mbpd off the marketRussia side:
As the European Union prepares to implement a ban on Russian seaborne crude in December, the market will have to prepare itself for a loss of 2.4 million bpd, according to the International Energy Agency
The ban on Russian crude imports by sea will take 1.4 million bpd of oil off the market, along with 1 million bpd of petroleum products.
This is in line with the ban on Russian seaborne crude that goes into effect on December 5th, and the embargo on petroleum products, which goes
USOIL 1 hour wave count udpate we are in wave 2 of a bigger wave 3 for downward move toward target of 75 $
wave count are seen on the chart and with strong CPI yesterday ,bearish move resumed
Recent data showed China’s economy lost further momentum in August, with factory activity extending declines and export growth slowing.
The world’s second-largest economy narrowly avoided contracting in the second quarter amid widespread COVID-19 lockdowns and weakness in the property market which have dented consumption and factory act
xrp target is 0.23xrp is completed its first leg of 5th impulsive downtrend and now it is in correction and sooner or later it will resume downward move toward 0.23
. our wave count is seen on the chart and after wxy correction we have seen bear move resumption.
for better view please see big picture on daily time frame
as requested by @s_hers
bulls delayed for aggressive interest rate hikes & China’s COVIDbullish scenario delayed for a while due to aggressive interest rate hikes and China’s COVID-19 curbs and invalidated our upward wave count.
now with ichimikou overlapped tenkensen and kijensen on daily timeframe we understood that bearish move continuation is imminent toward 75$.
Despite the market’s strong performance the past two sessions, crude oil is still poised to post a second consecutive weekly loss. This week’s losses are being fueled by a bleak demand outlook due to a number of aggr
a clear pullback on daily timeframe trendline with MACD div.price clearly pullback on daily timeframe trendline along with MACD divergence are signs of bullish move despite heavy fall down of previous week .
so the lower line of the two channels could play a role of strong support to up the price
European Commission president calls for price cap on Russian oil so this could interrupt supply from one hand and from other hand Iran JCPOA will be revived as French source announced that it will be concluded within two weeks to strengthen the supply .it
WTI big picture wave structure,first 112 then 75 $ in long run daily time frame wave count is a big picture of usoil wave sturcture as depicted on the chart indicating upward move toward 112-115 $ then going down for 75$ as these two numbers is taken from Kijensen and Tenkensen overlapped target and also our wolfe wave pattern and is in coincidence with USDCAD wave structure as below
if you have any comments about how you think for this analysis please share
thanks
daily correction wave count wave structure of USDCAD is crucial as it will give us an idea how USOIL will move
these two pair and commodity is intensely and inversely correlated . USOIL is directly affected by USD and CAD so this USDCAD pair is always under scrutiny as some traders talked for it inversely
now pair is in a huge WXY to complete its B bigger wave .
there is a blue rectangle from which we are expecting that pair will start its bear move.so we will keep an eye on blue rectangle to follow waves.
keep this sc
TORNUSDT +40%Long idea for TORNUSDT
stick to entry at 9.91
TP1 12.5 (~40%)
TP2 16 (~60%)
SL 8.7
Supported by Wolfe Wave analysis
TLong
oil is in correction phase after completing 5 impulse waveoil is now in correction phase as it is making wave 2 of its bigger 5 wave impulsive wave
fears of recession and lower demand due to aggressive central bank interest rate hikes are mentioned for the sudden shift to the downside as well as reports that Iraqi crude exports have been unaffected by domestic skirmishes. These events push prices higher the previous session.
there is a lot of noise out there that comes into the picture when you start looking at the Iranian deal possibly allowing for
Yet another bullish Wolfe Waves appearance on Bitcoin's chartsI will position myself in a long order on Bitcoin after the equal lows are taken out. Closure below H4 demand invalidates the idea as we'd sink much lower in price if supply beat the demand here imo (and that is where I will be placing my stop loss orders and possible a short stop-limit order if I see fir by then). I will be taking profits at the three H2 bearish order blocks above (with the third highest supply point having the least probability) and trailing my stop loss below the price as






















