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Oil and Natural Gas

  • #3,041
  • Oct 27, 2017 4:31am Oct 27, 2017 4:31am
Thanks for the charts parisboy.

Looks like we are in for a ride down!! Who is on board?
  • #3,042
  • Edited 5:02am Oct 27, 2017 4:41am | Edited 5:02am
I am not so sure. I am not a specialist on oil and WTI. I just analyze charts !

This WTI chart can be seen as a reentry within the Envelope 256 Time Unit (here 5 mn) and a return to the average - the Centered Moving Average

depending on the strength of the down thrust we can go more or less flat , then up to the lower limit of the Envelope 256 TU
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  • #3,043
  • Oct 27, 2017 5:15am Oct 27, 2017 5:15am
WTI - 24 H / 1 Minute
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  • #3,044
  • Oct 27, 2017 7:17am Oct 27, 2017 7:17am
Rough look at usoil
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Wooooohooooo or Boooooohooooo
  • #3,045
  • Oct 27, 2017 7:56am Oct 27, 2017 7:56am
Price rejected by 61.8% fib level of yesterday? on UKoil on 38.2% Exactly!

Too bad i was away from my computer... Now only a fraction of profit left.. Will i leave it open, or close it and call it day...

Hmmmzzz what to do!?
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  • #3,046
  • Oct 27, 2017 9:00am Oct 27, 2017 9:00am
Quoting thejerre
Price rejected by 61.8% fib level of yesterday? on UKoil on 38.2% Exactly! Too bad i was away from my computer... Now only a fraction of profit left.. Will i leave it open, or close it and call it day... Hmmmzzz what to do!? {image} {image}
I hope you closed, I was thinking the same thing should I hold or not but the price action was showing signs of what came now so I did close with small profit.
  • #3,047
  • Oct 27, 2017 9:09am Oct 27, 2017 9:09am
My chart is showing a gap on oil from 53.01 to 53.21$ something like that, can anyone confirm ? Also is there some major news ?
  • #3,048
  • Oct 27, 2017 9:10am Oct 27, 2017 9:10am
Quoting atom3
{quote} I hope you closed, I was thinking the same thing should I hold or not but the price action was showing signs of what came now so I did close with small profit.
Unfortunately not... Closed will a small loss..

No gap here... just 2 full candles of price action!
  • #3,049
  • Oct 27, 2017 4:28pm Oct 27, 2017 4:28pm
holy shit......
  • #3,050
  • Oct 27, 2017 5:14pm Oct 27, 2017 5:14pm
Quoting thejerre
holy shit......
yeah...so who else thinks this was a huge fake breakout in prep for a drive back down into the low 40's??
  • #3,051
  • Oct 27, 2017 11:35pm Oct 27, 2017 11:35pm
Near completion of a corrective wave b, before setting up for shorts at the 54.40s.
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Elliott Wave for optimum entry, exit and risk management of trades
  • #3,052
  • Oct 28, 2017 3:16am Oct 28, 2017 3:16am
Quoting bladerogers
{quote} yeah...so who else thinks this was a huge fake breakout in prep for a drive back down into the low 40's??
The price broke though a major resistance imho. It may return a bit, but will likely find support on it and proceed further up to 6x.xx or so.
Congrats to bulls.
Cheers,
k
  • #3,053
  • Oct 28, 2017 9:58pm Oct 28, 2017 9:58pm
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  • #3,054
  • Oct 29, 2017 4:11am Oct 29, 2017 4:11am
Any good technique to trade for oil please ?
  • #3,055
  • Oct 29, 2017 5:00pm Oct 29, 2017 5:00pm
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  • #3,056
  • Oct 30, 2017 9:03am Oct 30, 2017 9:03am
Quoting kprsa
{quote} The price broke though a major resistance imho. It may return a bit, but will likely find support on it and proceed further up to 6x.xx or so. Congrats to bulls. Cheers, k
After the weekend analysis, this is how I see it. The numbers I get are from O@nda's feed, and may vary a bit from your provider's.
k

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  • #3,057
  • Oct 30, 2017 10:28am Oct 30, 2017 10:28am
Quoting kprsa
{quote} After the weekend analysis, this is how I see it. The numbers I get are from O@nda's feed, and may vary a bit from your provider's. k {image}
Do you have any open trades ? My last couple of trades on oil were break even ones so currently I have turned my attention to gold and silver. I would still rather short oil tho. Actually I am a bit late today... I was out for a couple of hours and I missed a very good position here. Look
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A short at 54.50 was a safe one. It is a two year top there. Plus a correction is expected for the fridays move up, maybe now is not late to open one hm, I will see.
  • #3,058
  • Oct 30, 2017 11:07am Oct 30, 2017 11:07am
Quoting atom3
{quote} Do you have any open trades ?
No, currently not, my previous shorts were all stopped out unfortunately.
I do have a short order waiting at 54.75 - just in case it happens during the time I cannot watch it. I suspect what would happen is a bounce down to the previous support at 52.242 (where I'll then attempt a buy), and then a slow grind (i.e. with clear signs of distribution) up to 56.33 over the next 10 days or so.
In the end a relief down to 45-50 or so - cannot estimate at present.

Cheers,
k
  • #3,059
  • Oct 30, 2017 9:30pm Oct 30, 2017 9:30pm
oil in the flat, it seems to go higher until the end of November. i expected on Monday reverse bar, but no way. last chance today but bullish tendency looks too solid.
  • #3,060
  • Oct 31, 2017 5:00am Oct 31, 2017 5:00am
There was a doji yesterday (daily), so it could go either way. Definitely one would not be surprised if it turned down from here.....

edit: Brent has already broken above recent highs.
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