Crude oil has reached the weekly downtrend target I had labeled on my charts, and way ahead of time.
Amidst droves of hype, and news stories about Iran's contribution to global glut, and panic, oil started rallying (typically, after reaching a sentiment extreme, clearly diagnosed by my mentor, Tim West, in his publication calling the bottom in oil, with a 10 dollar downside risk, but potential for high 40s up).
The technical elements are there, we're approaching the end of the time for this downtrend, which implies a retest of 45.21 in the coming weeks is possible.
Knowing the general trayectory, we can look for signals in the daily and lower timeframes to enter long positions, and scale in, navigating this emerging uptrend until we hit the target on chart (if we ever do).
For the time being I'm long, and looking to add to this trade.
The recent news about Japan mega-dovish stance has been the catalyst for a surge in the bonds and gold, and I think this will transpire into oil and silver as well.
Cheers,
Ivan Labrie.
Amidst droves of hype, and news stories about Iran's contribution to global glut, and panic, oil started rallying (typically, after reaching a sentiment extreme, clearly diagnosed by my mentor, Tim West, in his publication calling the bottom in oil, with a 10 dollar downside risk, but potential for high 40s up).
The technical elements are there, we're approaching the end of the time for this downtrend, which implies a retest of 45.21 in the coming weeks is possible.
Knowing the general trayectory, we can look for signals in the daily and lower timeframes to enter long positions, and scale in, navigating this emerging uptrend until we hit the target on chart (if we ever do).
For the time being I'm long, and looking to add to this trade.
The recent news about Japan mega-dovish stance has been the catalyst for a surge in the bonds and gold, and I think this will transpire into oil and silver as well.
Cheers,
Ivan Labrie.
코멘트:
Might take a while to resume the move up, but still bullish overall.
액티브 트레이드:
Reentered longs.
코멘트:
If we don't hit 28,99 in 2 days I'll add to longs to average my entry. I'm in it as a pair trade with usdcad longs. (both long)
코멘트:
Tomorrow we'll probably have a buy signal again. To add if still in.
코멘트:
Adding to longs on a new signal.
코멘트:
(not yet, tomorrow maybe, or the day after tomorrow)
코멘트:
Longs are winning this tug of war.
The best strategy is to buy corrections, in this case we have a new potential uptrend signal emerging, right after this new mode has formed. I'll add to longs aggressively once it's confirmed.
The best strategy is to buy corrections, in this case we have a new potential uptrend signal emerging, right after this new mode has formed. I'll add to longs aggressively once it's confirmed.
코멘트:
I'll wait for the oil chart to align better for longs. It's considerably choppy in lower timeframes.
I'll wait for the oil chart to align better for longs. It's considerably choppy in lower timeframes.
코멘트:
24.67 might get hit. We have a daily downtrend now.
코멘트:
Price stuck at the options expiration support.
액티브 트레이드:
I'm long oil as a pair trade with a gold short.
코멘트:
Great progress!
In from 27.87.
In from 27.87.
코멘트:
*28.87
매매 수동청산:
You can exit longs and flip short, use a 3 ATR sl (5 points to be safe) Then trail it closer after 2.5 point profit.
코멘트:
The path was more or less correctly diagnosed.
Now, we reached a critical level, I'm holding shorts from 41.7-41.14, but we might see a new leg up before a steeper retracement begins.
Pay attention to the 39 zone.
Now, we reached a critical level, I'm holding shorts from 41.7-41.14, but we might see a new leg up before a steeper retracement begins.
Pay attention to the 39 zone.
