Oil Set for Long

FX:USOIL   Rohöl CFD's (WTI)
876 10
Oil is a Good buy in 2016. Oil should pop up from here with 3 wave swing to complete cycle wave.
Kommentar: There are a lot of traders agreed with this Idea. However, I have to consider an alternative in ElliotWave analysis. Many of the traders thinking to short again from 43. I am not against to their decision. The above idea represents possible area to bounce the PA. Currently there is no trend reversal yet. As a trade before entering into position I need to see some kind of reversal structure or candle stick pattern.

I would like to share my Alternative View to look at.
Hi,shaiju,You are in your own way reasoning out?
38 could be a magnet.
VRShaiju ElPatron.Y
Nice to see you here..! Yes We Need a Pin bar with wedge breakout. At the moment I didnot see a pattern to long. Expecting stop at 50% correction.
Shaiju, for me the two key days are 7/7 & 7/22 (where it broke 46 and 44). If I take 7/7 I get target as 39, and considering 7/22 its 37. I'm more inclined to 37 as mentioned in my previous comment, as the fall was rapid after that. Those are my targets for max 2 weeks timeframe. Will take a fresh look if it hits SL or if we cross the 2 weeks timeline. Only time will tell. lets see.
VRShaiju scra99
You could be right. The bottom is not yet IN. The kind of fall looks like C wave which normally end with spike in trend direction. That's is the signal to consider a BUY position
I have short positional target of 37 in next 2 weeks. Will short on every rise with stop at 45.
I need 39 :(
I don't mind 39 either :)
Thanks VRShaiju. I pray this happens, I've already started accumulating longs on friday. What's your timeframe for this move?
VRShaiju keefer0
Hello Keefer0 Good to see you again. It should Popup. 39 is the key level. I am looking for 62 before setting a decent reversal. I am guessing we need 4 months to reach that target. Next year oil should drop again. Careful when trading oil because oil US oil inventories make it bear one more time in this week.
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