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OIL (CL_F) Elliott Wave: Buying The Dips At The Blue Box

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Hello fellow traders. As our members know , Oil has recently given us good buying opportunity . In this technical article we’re going to look at the Elliott Wave charts of  Oil published in members area of the website. The commodity shows bullish sequences in the cycle from the 67.75 low. Consequently we have been favoring the long side and recommended members to keep buying the dips in 3,7,11 swings. Oil made clear 3 waves down from the March 1st peak and completed correction right at the Equal Legs zone ( Blue Box Area) . In further text we’re going to explain the  Elliott Wave pattern  and trading setup.

OIL Elliott Wave 1  Hour  Chart 03.09.2024

Current view suggests that wave (x) pull back is still in progress , calling for more short term weakness toward 77.37-76.59 area. We don’t recommend selling Oil and prefer the long side from the marked Blue Box ( buying zone). As the main trend is bullish, we expect the price to make at least bounce in 3 waves from the Blue Box area.  Once the bounce reaches 50 fibs against the x red connector we will take partial profits and make position risk free ( put SL at BE) .

Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.

Quick reminder on how to trade our charts :

Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable. 🚫

OIL

OIL Elliott Wave 1  Hour  Chart 03.13.2024

The commodity reached our buying zone at : 77.35-76.56 and found buyers as expected. Oil is giving us very good reaction from the Blue Box Area. We call pull back (x) blue completed at the 76.78 low. As a result, any long positions should be risk free by now. We would like to see break of (w) blue peak (March 1st) to confirm next leg up is in progress.

Keep in mind that market is dynamic and presented view could have changed in the mean time.  You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room

New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.

OIL

Elliott Wave Forecast

We cover 78 instruments in total, but it’s important to keep in mind that not every chart is trading recommendation. We present Official Trading Recommendations in Live Trading Room.  If not a member yet,  Sign Up for Free 14 days Trial now and get access to new trading opportunities. Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy. Join us now and start learning from market experts. If you are looking for professional real-time analysis in Forex, Indices, commodities,Crypto currencies , stocks and ETFs you have come to the right place.

Welcome to Elliott Wave Forecast !

 

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BABA Stock: Found Sellers At The Blue Box Area

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Hello fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of BABA Stock published in members area of the website.  As our members know, the stock has recently made a recovery that found sellers right at the blue box area.  Our team recommended members to avoid buying the stock , while keep favoring the short side.  BABA found sellers and made reaction from the blue box as expected. In the further text we are going to explain the Elliott Wave Forecast and trading strategy.

BABA Elliott Wave 4 Hour  Chart 02.06.2024

BABA is currently giving us (4) blue recovery which is unfolding as Elliott Wave Zig Zag Pattern. The price structure looks incomplete at the moment. We expect to see more short term strength toward 80.13-85.77 equal legs ( Blue Box – sellers zone). We don’t recommend buying the stock and prefer the short side from the blue box. As the main trend is bearish, we expect to see at least 3 waves pull back from our selling zone.  Once decline reaches 50 Fibs against the B red low , we will make short position risk free ( put SL at BE) and take partial profits. Invalidation for the short trades is break above 1.618 fib ext : 85.77

Quick reminder:

Our charts are easy to trade and understand:
Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable.  🚫

You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.

baba

BABA Elliott Wave 4 Hour  Chart 02.15.2024

The stock found sellers right at the Blue Box area : 80.13-85.77 . Recovery completed at the 82.7 high and we got good reaction from the selling zone.  Decline reached and exceeded 50 fibs against the connector’s low. So members who took the short trades are enjoying profits now in a risk free positions. While below 82.7 high, next leg down can be in progress toward new lows.

Keep in mind that market is dynamic and presented view could have changed in the mean time.  You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room

Baba

Elliott Wave Forecast

We cover 78 instruments in total, but not every chart is trading recommendation. We present Official Trading Recommendations in Live Trading Room.  If not a member yet,  Sign Up for Free 14 days Trial now and get access to new trading opportunities. Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy.

Welcome to Elliott Wave Forecast !

 

Free Trial