Comments on: Hewison Asks Just How Low can Crude Oil Go http://blog.afraidtotrade.com/hewison-asks-just-how-low-can-crude-oil-go/ Helping traders overcome fears and emotions in trading Thu, 09 Feb 2012 14:53:15 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: tgarfield http://blog.afraidtotrade.com/hewison-asks-just-how-low-can-crude-oil-go/comment-page-1/#comment-213242 tgarfield Fri, 10 Jul 2009 01:34:34 +0000 http://blog.afraidtotrade.com/?p=4272#comment-213242 I like your chart. I was planning on 73 and was short. I can see oil hitting 80. This could still be wave A and we are in 4 down. A=1 b=2 C=3 . 4 is somewhere around 60 and 5 will be 78 or 80. This makes a 38.2 retrace for oil. I could be wrong but have made enough shorting 73 to give this a shot. I have done about 5 different charts and could probably convince myself everyone of them is right (lol). What is interesting is USO has a slightly different chart due to contango. Which should be the right chart, which one effects psychology more?<br><br>I have a small position and will add if it starts to pan out. So many are convinced oil is going down, short covering could give a fast run for wave 5. That is what makes wave 5. I like your chart. I was planning on 73 and was short. I can see oil hitting 80. This could still be wave A and we are in 4 down. A=1 b=2 C=3 . 4 is somewhere around 60 and 5 will be 78 or 80. This makes a 38.2 retrace for oil. I could be wrong but have made enough shorting 73 to give this a shot. I have done about 5 different charts and could probably convince myself everyone of them is right (lol). What is interesting is USO has a slightly different chart due to contango. Which should be the right chart, which one effects psychology more?

I have a small position and will add if it starts to pan out. So many are convinced oil is going down, short covering could give a fast run for wave 5. That is what makes wave 5.

]]> By: tgarfield http://blog.afraidtotrade.com/hewison-asks-just-how-low-can-crude-oil-go/comment-page-1/#comment-209845 tgarfield Thu, 09 Jul 2009 20:34:34 +0000 http://blog.afraidtotrade.com/?p=4272#comment-209845 I like your chart. I was planning on 73 and was short. I can see oil hitting 80. This could still be wave A and we are in 4 down. A=1 b=2 C=3 . 4 is somewhere around 60 and 5 will be 78 or 80. This makes a 38.2 retrace for oil. I could be wrong but have made enough shorting 73 to give this a shot. I have done about 5 different charts and could probably convince myself everyone of them is right (lol). What is interesting is USO has a slightly different chart due to contango. Which should be the right chart, which one effects psychology more?<br><br>I have a small position and will add if it starts to pan out. So many are convinced oil is going down, short covering could give a fast run for wave 5. That is what makes wave 5. I like your chart. I was planning on 73 and was short. I can see oil hitting 80. This could still be wave A and we are in 4 down. A=1 b=2 C=3 . 4 is somewhere around 60 and 5 will be 78 or 80. This makes a 38.2 retrace for oil. I could be wrong but have made enough shorting 73 to give this a shot. I have done about 5 different charts and could probably convince myself everyone of them is right (lol). What is interesting is USO has a slightly different chart due to contango. Which should be the right chart, which one effects psychology more?

I have a small position and will add if it starts to pan out. So many are convinced oil is going down, short covering could give a fast run for wave 5. That is what makes wave 5.

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