Hello everyone,
the count is gone and I was not on the right side. So good so far, but I do not give up reading the chart and share my ideas here. So, there is another count in the chart…
I think, that the whole structure since the low in Feb 2016 at 26$ is corrective, because WTI has destroyed the impulsive count yesterday. In 2016 I felt not good, because the structure of the first movements up didn’t look impulsive rather corrective, but WTI was starting to new highs, so I changed my opinion. That eventually was wrong!
Superordinate I now see a subordinate ABC-correction-pattern, which will lead us down to under 26$! Yes, under 26$. It may sound sick, but this is absolutely possible!
And yes, there is a chance for new highs – absolutely. We should keep an eye on the structure of the movement up, which started today. I think this will be only a corrective wave 2 up, which I will use for a short-entry, if my actual count is right. The blue circle in the chart may be the sore point form where we have to make a decision: up for a final uptrend, or down for a massive downfall.
Don’t hesitate to contact me, if you have any questions or other ideas!
Take care
tgo
the count is gone and I was not on the right side. So good so far, but I do not give up reading the chart and share my ideas here. So, there is another count in the chart…
I think, that the whole structure since the low in Feb 2016 at 26$ is corrective, because WTI has destroyed the impulsive count yesterday. In 2016 I felt not good, because the structure of the first movements up didn’t look impulsive rather corrective, but WTI was starting to new highs, so I changed my opinion. That eventually was wrong!
Superordinate I now see a subordinate ABC-correction-pattern, which will lead us down to under 26$! Yes, under 26$. It may sound sick, but this is absolutely possible!
And yes, there is a chance for new highs – absolutely. We should keep an eye on the structure of the movement up, which started today. I think this will be only a corrective wave 2 up, which I will use for a short-entry, if my actual count is right. The blue circle in the chart may be the sore point form where we have to make a decision: up for a final uptrend, or down for a massive downfall.
Don’t hesitate to contact me, if you have any questions or other ideas!
Take care
tgo
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HK-Capital-Management
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