Elliott Wave 5.0 "Reboot"

Wednesday, March 23, 2016

WTI Crude Oil Intraday Crash Review

When things head down after a bullish run, panic strikes the oil bulls as they just want to get out as fast as they can. Many sell stops get hit on the way down and it won't stop until the bears dominate again.  Of course that could end up at another Elliott Wave falling knife  setup. 

The thing is, is that one can never hit perfection and it is impossible to do it with a posting as many people log in too late and it may take a week for the pages to get read by any amount of readers. 

Imagine the horror if I said oil will stop at $39 but falls to $37.90 before it stops.  Oil could also stop far too early as we could head into a bigger triangle and then this would drag out for many weeks.  This would be the least favorite option. 

My trend lines will always be parallel as I no longer will play the game of creating impressive throw-over and throw-under trend lines as I see they help to create forced wave counts.  The only way SC degree wave counts have a leg to stand on is because of forced wave counts. Forcing the same degree into two dramatically different sizes is not what I call a natural wave count. 

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