EverythingForex

USOil: How Wave Counting Told Us 9 Mos Ago What To Do +446 pips

FX:USOIL   原油差價合約(WTI)
Back last year, on April 11th of last year almost 9 months ago, I posted this: "Update USOil: On The Way To $60? More?". .
Back then in that post, I was already predicting $60 Oil             after a period of sideways movement in a wave (A) followed by a drop in a wave (B) as you can see in the chart from back in that post.

Here is the updated version of that chart: You can see just how accurately that my wave count called what Oil was to do! The only thing in question back then was how long it would take for Oil to take off. Well, it happened much sooner than that chart suggested but it did unfold as the wave count suggested it would. Still doubt the power of wave counting? Ok, let me give you a more recent example.....

We are currently still LONG in USOil and are in profit by over +440 pips. Why did we know to BUY? We just followed the wave count and as you see in the main chart above on the left, when the wave count and the price action suggested that the corrective wave iv was done, it was time to buy into the next move up which was to be the wave v of ( iii             ). Now knowing also that this was still a wave ( iii             ) in progress from our wave count that we discussed about posted back in April, we also knew that Oil was still in a bullish wave ( iii             ). we also knew to expect that this wave v had the potential to be explosive as that is how extended wave ( iii             )'s tend to finish. And you can see the result......Behold the Power of Wave Counting!

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