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  • #5,681
  • Jan 3, 2020 11:55am Jan 3, 2020 11:55am
Well....

long 62.51
SL below Previous Daily low.....

Will hold it over the weekend and see how it fares.....

ideal entry ought to have been 62.23

But missed the previous dip.....

lets.....
4&1 All Time Profit: $37,496
  • #5,682
  • Jan 3, 2020 12:39pm Jan 3, 2020 12:39pm
Quoting MzansiObi
Well.... long 62.51 SL below Previous Daily low..... Will hold it over the weekend and see how it fares..... ideal entry ought to have been 62.23 But missed the previous dip..... lets.....
50% closed the rest at BE......


lets go
4&1 All Time Profit: $37,496
  • #5,683
  • Jan 3, 2020 12:44pm Jan 3, 2020 12:44pm
Quoting MzansiObi
Well.... long 62.51 SL below Previous Daily low..... Will hold it over the weekend and see how it fares..... ideal entry ought to have been 62.23 But missed the previous dip..... lets.....
60 point+ spike off the bat, excellent MzD
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,684
  • Jan 3, 2020 12:55pm Jan 3, 2020 12:55pm
Quoting detector
{quote} 60 point+ spike off the bat, excellent MzD
Thanks D.....

some change ahead of the weekend.
still think there will be plenty news over the weekend to add Onto all of this volatility.....


green pips
4&1 All Time Profit: $37,496
  • #5,685
  • Jan 3, 2020 1:02pm Jan 3, 2020 1:02pm
Quoting MzansiObi
{quote} Thanks D..... some change ahead of the weekend. still think there will be plenty news over the weekend to add Onto all of this volatility..... green pips
While I'm not fond of holding over the weekend, if there were ever a time bad news would change or add to a situation, both oil and gold would benefit, you have one, good luck D
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,686
  • Jan 3, 2020 1:34pm Jan 3, 2020 1:34pm
Quoting MzansiObi
{quote} 50% closed the rest at BE...... lets go
nice trading champ!
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persistence and determination alone are omnipotent
  • #5,687
  • Jan 3, 2020 4:33pm Jan 3, 2020 4:33pm
Haha probably is as good a time as any to hold over the weekend. Any action or threat could send it flying even if it’s quickly sold into Monday open
  • #5,688
  • Jan 3, 2020 5:36pm Jan 3, 2020 5:36pm
best of luck to everyone. You are in the best market for strict auctions tests that has decent volatility and $$$. Although, try to trade the CL futures contract when you can.
  • #5,689
  • Jan 4, 2020 5:31am Jan 4, 2020 5:31am
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persistence and determination alone are omnipotent
  • #5,690
  • Jan 4, 2020 9:11pm Jan 4, 2020 9:11pm
Quoting prashfx
{quote} my 2 cents: brent wise it is nicely moving in an uptrend with 1st wave 56.x --> 68-69 completed after which it took a breather to 65-66. now we see this geopolitical based sudden rally bk to 69.x. such event shock based rallies might usually be sold off bk to fundamental levels and sustained rally shud always be accompanied by fundamentals like manufacturing/etc for crude .. so if 69 +/- not able to hold then spot can revisit 64-66$ area which is strong fundamental support at the moment. ofcourse i can be wrong and maybe next wave has already...
fyi last time we had such degree of backwardation in the mkt .. talking of brent here .. spot was trading 77-79 and the reason back then in 2018 was Iran only. I am not saying that spot will move there but the mkt is very vulnerable to go higher esp looking at the backwardation (high bkwardation environment has a tendency ti pull up spot prices .. bkwardation feeds bkwardation .. and same for contango). will see how it moves next week.
  • #5,691
  • Jan 5, 2020 1:59am Jan 5, 2020 1:59am
Quoting prashfx
{quote} fyi last time we had such degree of backwardation in the mkt .. talking of brent here .. spot was trading 77-79 and the reason back then in 2018 was Iran only. I am not saying that spot will move there but the mkt is very vulnerable to go higher esp looking at the backwardation (high bkwardation environment has a tendency ti pull up spot prices .. bkwardation feeds bkwardation .. and same for contango). will see how it moves next week.
Hey Prash,

Hope the weekend served its purpose and you got some sleep...

Some visual thoughts on the current structure as per the weekly close, our averages have sloped up again and as such looking to continue with buy dip mode on the retest...lets see how it opens to mark out some levels for Monday.....
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4&1 All Time Profit: $37,496
  • #5,692
  • Jan 5, 2020 2:16am Jan 5, 2020 2:16am
Quoting MzansiObi
{quote} Hey Prash, Hope the weekend served its purpose and you got some sleep... Some visual thoughts on the current structure as per the weekly close, our averages have sloped up again and as such looking to continue with buy dip mode on the retest...lets see how it opens to mark out some levels for Monday..... {image}
yeah weekend always short haha.

i am just posting the weekly HnS brent spot is marking .. hope it helps. right shoulder ~60 neckline ~66.50
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  • #5,693
  • Jan 5, 2020 2:38am Jan 5, 2020 2:38am
Quoting prashfx
{quote} yeah weekend always short haha. i am just posting the weekly HnS brent spot is marking .. hope it helps. right shoulder ~60 neckline ~66.50 {image}
Plenty of attention and interest at current handle.....think it becomes a key point for the first quarter of the new year....let’s see what it does though
4&1 All Time Profit: $37,496
  • #5,694
  • Jan 5, 2020 2:29pm Jan 5, 2020 2:29pm
We should be looking at a pretty nice gap up when the markets open. It's not going to be anything like when Saudi Arabia was bombed, but we've certainly had some important headlines over the weekend that raised instability in the Middle East. The Dow is set to drop 115pts as of this post:

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Self-sufficiency is the greatest of all wealth. - Epicurus
  • #5,695
  • Jan 5, 2020 3:14pm Jan 5, 2020 3:14pm
Quoting Ef5
We should be looking at a pretty nice gap up when the markets open. It's not going to be anything like when Saudi Arabia was bombed, but we've certainly had some important headlines over the weekend that raised instability in the Middle East. The Dow is set to drop 115pts as of this post: {image}
Ef, had the Dow short Friday and waited till the end to close, only scraped a BE+ thought the topple may have came then, didn't want to hold the weekend, will be looking for an entry first chance, WTI, looks like Mz getting the beers in D
I don't need to be good at the game, only good enough to beat my opponent,
  • #5,696
  • Jan 5, 2020 5:04pm Jan 5, 2020 5:04pm
Nice 100 pip open. Congrats to all who held over weekend
  • #5,697
  • Jan 5, 2020 5:10pm Jan 5, 2020 5:10pm
What a spike !!!
  • #5,698
  • Jan 5, 2020 7:46pm Jan 5, 2020 7:46pm
Quoting prashfx
{quote} fyi last time we had such degree of backwardation in the mkt .. talking of brent here .. spot was trading 77-79 and the reason back then in 2018 was Iran only. I am not saying that spot will move there but the mkt is very vulnerable to go higher esp looking at the backwardation (high bkwardation environment has a tendency ti pull up spot prices .. bkwardation feeds bkwardation .. and same for contango). will see how it moves next week.
I am selling backwardation on brent here. i think this might be the best trades of the yr maybe. fyi backwardation this morning is now higher than 2018 and not v far from whr it was in 2013 and infact higher than 2008 levels ... does not mean it has to go down straight .. but mayb over weeks/months .. also it does not mean i am selling spot .. instead i am betting on bkend performing better than front over time, tks.
  • #5,699
  • Jan 6, 2020 2:51am Jan 6, 2020 2:51am
Quoting prashfx
{quote} I am selling backwardation on brent here. i think this might be the best trades of the yr maybe. fyi backwardation this morning is now higher than 2018 and not v far from whr it was in 2013 and infact higher than 2008 levels ... does not mean it has to go down straight .. but mayb over weeks/months .. also it does not mean i am selling spot .. instead i am betting on bkend performing better than front over time, tks.
Noted Prash....
I see what you’re saying....and given your long term approach you may be onto something, I just don’t wanna hold onto it for that long, will rather collect my share in a day or two and get out......
with that said some levels I’ll be looking at today are as follows
65.71
64.74
64.38
63.63
62.97



will be looking at going long on any dip towards
62.98
SL 61.45
TP Open


green pips
4&1 All Time Profit: $37,496
  • #5,700
  • Jan 6, 2020 5:54am Jan 6, 2020 5:54am
WTI will either pullback or move sideways with the absence of more news. The danger is in this current climate a news event can occur in the blink of an eye and send it flying
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