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  • #6,541
  • Mar 3, 2020 4:00am Mar 3, 2020 4:00am
Quoting sponge
{quote} Good upside targets if she goes 50.02/51.68
More or less along this idea shared with me by another fellow trader
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4&1 All Time Profit: $37,496
  • #6,542
  • Mar 3, 2020 9:26am Mar 3, 2020 9:26am
Nice choppy day with wild swings. They are coming for their pound of flesh
  • #6,543
  • Mar 3, 2020 10:28am Mar 3, 2020 10:28am
had a nice short in from the top. appears i closed it too early
  • #6,544
  • Mar 3, 2020 11:54am Mar 3, 2020 11:54am
Did corona effect drop a little and/or seasonality started to kick in? I mean, not to mention WTI was low AF, was not so low in years!
Can you afford to take that chance?
  • #6,545
  • Mar 3, 2020 12:16pm Mar 3, 2020 12:16pm
Quoting auricforecas
Did corona effect drop a little and/or seasonality started to kick in? I mean, not to mention WTI was low AF, was not so low in years!
CL follows equity most of the time.
recovery US indices + rate cute (means weaker dollar -> good for commodities) did recover CL. Corona could still go pandemic then nobody travels anymore and CL will sink further (let's hope for the best).

upcoming factors:
OPEC meeting next couple of days
persistence and determination alone are omnipotent
  • #6,546
  • Mar 3, 2020 12:29pm Mar 3, 2020 12:29pm
H1 seeing some bearish movement
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persistence and determination alone are omnipotent
  • #6,547
  • Mar 3, 2020 12:29pm Mar 3, 2020 12:29pm
really struggling to go lower. feels like a bounce is coming
  • #6,548
  • Mar 3, 2020 12:31pm Mar 3, 2020 12:31pm
closed my short. will look to take a long if there is a rejection
  • #6,549
  • Mar 4, 2020 1:15am Mar 4, 2020 1:15am
Quoting sponge
WTI bullish above 47.89 US indices need to hold S&P 3054 Dow 26422 Conflicting signals on all atm My 2p
I think news drove the markets yesterday, 47.89 still a bullish level if we cross imo, signals lining up on most frames but not all so possible sideways to up.

Oil news out today could give a well needed boost

US indices rejected bullish levels yesterday but have recovered some atm, 3054/26422 still needed but may turn to resistance now

Easy peasy innit
All charts/ideas based on UK time zone
  • #6,550
  • Mar 4, 2020 3:02am Mar 4, 2020 3:02am
Forecasting a massive drop in CL in up to $40.00. Confirmation both in higher and lower timeframes.

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Evidence of lower highs in the shorter timeframes.
  • #6,551
  • Mar 4, 2020 3:04am Mar 4, 2020 3:04am
Quoting Kwame Freder
really struggling to go lower. feels like a bounce is coming
On the contrary, really struggling to go higher.
  • #6,552
  • Mar 4, 2020 5:46am Mar 4, 2020 5:46am
A wee bit of good news and we're off to the races
All charts/ideas based on UK time zone
  • #6,553
  • Mar 4, 2020 6:31am Mar 4, 2020 6:31am
Quoting BuddybBaster
{quote} On the contrary, really struggling to go higher.
I disagree. It has moved almost 500 points from the low at 43 encountered resistance at 48 but has struggled to go much lower, which would indicate its more likely to break that resistance and continue going higher. Time will tell
  • #6,554
  • Mar 4, 2020 7:18am Mar 4, 2020 7:18am
[quote = Kwame Freder; 12790267] {quote} Nesúhlasím. Posunula takmer 500 bodov z minima pri 43, keď sa stretla s odporom na 48, ale snažila sa ísť oveľa nižšie, čo by naznačovalo, že je pravdepodobnejšie, že tento odpor zlomí a bude pokračovať ďalej. Čas ukáže [/ citovať]

Do you think it will go under 43,00 ???
  • #6,555
  • Mar 4, 2020 9:33am Mar 4, 2020 9:33am
Quoting bezi87
[quote = Kwame Freder; 12790267] {quote} Nesúhlasím. Posunula takmer 500 bodov z minima pri 43, keď sa stretla s odporom na 48, ale snažila sa ísť oveľa nižšie, čo by naznačovalo, že je pravdepodobnejšie, že tento odpor zlomí a bude pokračovať ďalej. Čas ukáže [/ citovať] Do you think it will go under 43,00 ???
i have no clue. Anything is possible with the corona virus threat out there
  • #6,556
  • Mar 4, 2020 11:01am Mar 4, 2020 11:01am
Oil is very cheap vs the EUR and the Crack spread (Purple and blue lines) therefore any lows are going to get bought by the refiners. However there is alot of supply coming into the market at the moment (see the orange and pink lines) on my Stat Arb models and so short term we are headed back down. I have been selling upticks all day today.

Green line - COT and we can see the large specs have been buying into the lows.

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Boxing clever since 76.
  • #6,557
  • Mar 4, 2020 2:30pm Mar 4, 2020 2:30pm
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persistence and determination alone are omnipotent
  • #6,558
  • Mar 4, 2020 3:58pm Mar 4, 2020 3:58pm
Quoting auricforecas
Did corona effect drop a little and/or seasonality started to kick in? I mean, not to mention WTI was low AF, was not so low in years!
Raising... as it should, specially this time of the year, if you ask me...
Can you afford to take that chance?
  • #6,559
  • Mar 4, 2020 11:38pm Mar 4, 2020 11:38pm
Quoting auricforecas
{quote} Raising... as it should, specially this time of the year, if you ask me...
Hey Auri.

Thinking we still have more downside potential...expecting next leg lower will come from that 49.5/50 handle....current bullish impulse. It all that convincing considering how price is struggling to stay above some key MA, and Res handles to the topside...but let’s see...not looking to build long term on it now, have altered outlook in getting in and out on a intra day basis....
4&1 All Time Profit: $37,496
  • #6,560
  • Mar 5, 2020 1:36am Mar 5, 2020 1:36am
47.89 turning into a brick wall
All charts/ideas based on UK time zone
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