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  • #861
  • May 2, 2019 12:36pm May 2, 2019 12:36pm
Supporting at ws1 for now but quite bearish below I think.

Weekly chart still looks bearish with target 58 unless we can move back up to last weeks low at 62.28 tomorrow
Attached Image (click to enlarge)
Click to Enlarge Name: oilsmoothed.PNG Size: 36 KB
All charts/ideas based on UK time zone
  • #862
  • May 2, 2019 12:40pm May 2, 2019 12:40pm
Quoting Ll1979
https://youtu.be/G-FysanWKtc
With a little luck our group may be on the right side and see some dizzy heights
I don't need to be good at the game, only good enough to beat my opponent,
  • #863
  • May 2, 2019 1:02pm May 2, 2019 1:02pm
Quoting sponge
Supporting at ws1 for now but quite bearish below I think. Weekly chart still looks bearish with target 58 unless we can move back up to last weeks low at 62.28 tomorrow {image}
Sponge, only hoping it's a hook back with a continuation back above the high, expect to see the result at some point, hope it's in our favour, pre all the hype I was looking for the reverse pattern but as I said, trading one way is not me, I have to make all directions benefit, even sideways if it can be traded.
I don't need to be good at the game, only good enough to beat my opponent,
  • #864
  • May 2, 2019 1:11pm May 2, 2019 1:11pm
Quoting detector
{quote} Sponge, only hoping it's a hook back with a continuation back above the high, expect to see the result at some point, hope it's in our favour, pre all the hype I was looking for the reverse pattern but as I said, trading one way is not me, I have to make all directions benefit, even sideways if it can be traded.
Interestingly tomorrows pivot is just above last weeks low , could be a bull target

Assuming we don't go below ws1 tonight
All charts/ideas based on UK time zone
  • #865
  • May 2, 2019 1:20pm May 2, 2019 1:20pm
Quoting sponge
{quote} Interestingly tomorrows pivot is just above last weeks low , could be a bull target Assuming we don't go below ws1 tonight
could be a clear out for the next leg, the fall was slow and painful, an expectation here, if it's rapid it could take all the stops and be linear, if that's the word.
I don't need to be good at the game, only good enough to beat my opponent,
  • #866
  • Edited 1:34pm May 2, 2019 1:24pm | Edited 1:34pm
2hr coming back above sup/res. 61.65
Attached Image(s) (click to enlarge)
Click to Enlarge Name: oil98889.png Size: 10 KB
Click to Enlarge Name: news.png Size: 21 KB
I don't need to be good at the game, only good enough to beat my opponent,
  • #867
  • May 2, 2019 1:31pm May 2, 2019 1:31pm
Quoting detector
{quote} could be a clear out for the next leg, the fall was slow and painful, an expectation here, if it's rapid it could take all the stops and be linear, if that's the word.
We could get tomorrows bull target tonight by the look of it

Signing off

Good luck
All charts/ideas based on UK time zone
  • #868
  • Edited 2:09pm May 2, 2019 1:56pm | Edited 2:09pm
Ok so we have hit the retrace, an ambitious one according to the news, what now, the rest of this will be in your news section to check, on guard !!!
EDIT
61.65 is a stalling point, will close if it doesn't hold.
Attached Image (click to enlarge)
Click to Enlarge Name: news2.png Size: 30 KB
I don't need to be good at the game, only good enough to beat my opponent,
  • #869
  • May 2, 2019 2:46pm May 2, 2019 2:46pm
Up again from here? any thoughts.
I don't need to be good at the game, only good enough to beat my opponent,
  • #870
  • May 2, 2019 3:18pm May 2, 2019 3:18pm
Quoting Marco-Kanto
{quote} Jesus. Oil can't find a bid anywhere. Sideline.
I didn't sit on my hands for long. As you can see I tried once at 61.15 and got out @BE. Waited again and got a better entry at 61.11. Closed at 61.60 for +49. Up on WTI for the day by a whisker
Attached Image (click to enlarge)
Click to Enlarge Name: 5E8DF2B0-3FE1-43FC-ADE9-694B1E92615F.jpeg Size: 48 KB
Focus.
  • #871
  • May 2, 2019 3:32pm May 2, 2019 3:32pm
Quoting Marco-Kanto
{quote} I didn't sit on my hands for long. As you can see I tried once at 61.15 and got out @BE. Waited again and got a better entry at 61.11. Closed at 61.60 for +49. Up on WTI for the day by a whisker {image}
Better by a whisker than non at all, I'm still holding, my entry was too hasty, mental note,,,,, going to call it a day soon though and take my scratching's, the chart has turned positive again but the gaping lower down makes me a little jittery, I'm away tomorrow so you will all get some peace, be good and good fortune to all, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #872
  • May 2, 2019 3:34pm May 2, 2019 3:34pm
Attached Image (click to enlarge)
Click to Enlarge Name: F9739DA1-AF3E-439E-A308-F398EDCBFC98.png Size: 362 KB
Anyone like indices? DAX could be forming a top, accompanied with strong divergence on the 4h. Worth keeping an eye on.

Excuse the mobile footage.
Focus.
  • #873
  • May 2, 2019 3:38pm May 2, 2019 3:38pm
Quoting detector
{quote} Better by a whisker than non at all, I'm still holding, my entry was too hasty, mental note,,,,, going to call it a day soon though and take my scratching's, the chart has turned positive again but the gaping lower down makes me a little jittery, I'm away tomorrow so you will all get some peace, be good and good fortune to all, D
The market will be here when you return!
Focus.
  • #874
  • May 2, 2019 3:47pm May 2, 2019 3:47pm
Quoting riclater211
{quote} Hey All, So 1st day of the month showed little improvement to Brent . Price has been dancing on my trend line but it did not move passed yesterdays high. Which is fine by me. I am hoping to see price climb up the trend line to my trade zone(GREEN BOX). I would actually prefer a 50% retrace from Decembers low which would get us down to 62.00. However, I still believe we will see 77.00 - 80.00 until summer is over. If price does not reach those levels by end of August or mid September, I think price will either come down or range....
Hey All,

Price has broke my trend line for the second time this week. Price came very close to short side trade area @ 70.00 but just could not make it. Another reason I use whole numbers. Banks and institutions use them so should I. So should you but I shouldn't tell anyone how to trade. Anyway, If price breaks my trend line one more time, that should put me into a short on Brent with a 8% - 10% target range.

- Ric
Attached Image (click to enlarge)
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Be humble or get humbled
  • #875
  • May 2, 2019 4:18pm May 2, 2019 4:18pm
WTI April contract on H4:

The median line failed to cross EMA20 and the downtrend line. The next 4 bars saw a decline beyond the second lower band (LB2) to a low of 60.95 for a decline of ~250 pips.

The Keltner bands show WTI is seriously oversold, but if equities are teetering on the edge of a big decline, oil will be taken down farther.
Attached Image (click to enlarge)
Click to Enlarge Name: wti_h4_20190502.jpg Size: 106 KB
  • #876
  • Edited 4:58am May 3, 2019 4:32am | Edited 4:58am
Quoting Marco-Kanto
{image}Anyone like indices? DAX could be forming a top, accompanied with strong divergence on the 4h. Worth keeping an eye on. Excuse the mobile footage.
DAX struggling to move through DR1.

*edit - Short from 12389. SL above todays high.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2019-05-03 at 10.31.14 AM.png Size: 243 KB
Focus.
  • #877
  • May 3, 2019 5:47am May 3, 2019 5:47am
Between the devil and the deep blue sea.

If it holds 61.62 I think it can still hit the Daily Pivot/last weeks low
Attached Image (click to enlarge)
Click to Enlarge Name: wti5min.PNG Size: 38 KB
All charts/ideas based on UK time zone
  • #878
  • May 3, 2019 6:26am May 3, 2019 6:26am
Quoting Marco-Kanto
{image}Anyone like indices? DAX could be forming a top, accompanied with strong divergence on the 4h. Worth keeping an eye on. Excuse the mobile footage.
sometimes took a few points earlier this week. Going to have a look @ it
persistence and determination alone are omnipotent
  • #879
  • May 3, 2019 6:35am May 3, 2019 6:35am
keeping an eye on a possible breakout on 15M chart
Attached Image (click to enlarge)
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persistence and determination alone are omnipotent
  • #880
  • May 3, 2019 6:43am May 3, 2019 6:43am
long @ 61.962 let's see what happens
persistence and determination alone are omnipotent
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