Mr. Scott's Crayon Thread | Page 650 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Crayon Trend Lines 14 replies

Scott's Journal 25 replies

Attachments: Mr. Scott's Crayon Thread
Exit Attachments

Mr. Scott's Crayon Thread

  • #12,981
  • Apr 19, 2020 4:59am Apr 19, 2020 4:59am
Quote
Started first shorts into the SPX.

I hope you don't mind me asking what levels are you targeting? Back to 0.618?

It has certainly been a quick rally from the lows, but it seems to me that with an upcoming election and the need to restart the economy the plan is to push equities as high as possible to ensure the boomers/working age 401k's aren't destroyed.

Personally holding a few stocks in FTSE and looking to top up at appropriate time. Rather hope we get a U rather than V recovery in equities to enable me to leg in properly at a reasonable price.
  • #12,982
  • Apr 19, 2020 10:27pm Apr 19, 2020 10:27pm
Quoting Steamroller
{quote} I hope you don't mind me asking what levels are you targeting? Back to 0.618? It has certainly been a quick rally from the lows, but it seems to me that with an upcoming election and the need to restart the economy the plan is to push equities as high as possible to ensure the boomers/working age 401k's aren't destroyed. Personally holding a few stocks in FTSE and looking to top up at appropriate time. Rather hope we get a U rather than V recovery in equities to enable me to leg in properly at a reasonable price.
Hi Steamroller this is a longer term trade for me. Price movements have had more to do in this commodity due to the mine closures. Uranium doesn't trade like other commodities, rather contracts are negotiated privately between buyer and seller. The spot price is put together buy Tradetech which calculates on near term transactions for contracts of a significant amount.

I trade via Uranium companies, Western Uranium, Palladium Energy and Cameco. Important to note that long plays in this area are expected to produce a sharp run with upto 10x investment.

It has certainly been a quick rally from the lows, but it seems to me that with an upcoming election and the need to restart the economy the plan is to push equities as high as possible to ensure the boomers/working age 401k's aren't destroyed.

Couldn't agree more.
  • #12,983
  • Apr 19, 2020 10:31pm Apr 19, 2020 10:31pm
Quoting squawk
{quote} Ben, looking at possible $15 here. I cant see price staying around here to long. Trump will want to apply some pressure here soon or otherwise he will see some swing states for him get smashed. Fracking new cost in those state is around $40, and destined for big issues if it keeps at this level. US will have to start putting pressure on Dollar shortly if nothing starts to improve quickly. {image} {image} {image}
Have started buying crude now as we are now in the territory for the lows of 80, 94 and 98.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2020-04-17_1713.png Size: 123 KB
Click to Enlarge Name: 2020-04-20_1312.png Size: 138 KB
  • #12,984
  • Apr 19, 2020 10:47pm Apr 19, 2020 10:47pm
Yuan some thoughts
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2020-04-20_1342.png Size: 181 KB
Click to Enlarge Name: 2020-04-20_1343.png Size: 205 KB
Click to Enlarge Name: 2020-04-20_1345.png Size: 181 KB
Click to Enlarge Name: 2020-04-20_1345_001.png Size: 191 KB
  • #12,985
  • Edited Apr 20, 2020 3:54am Apr 19, 2020 10:52pm | Edited Apr 20, 2020 3:54am
EG thoughts possible trade pullback against current trend.
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-04-20_1350_001.png Size: 197 KB
  • #12,986
  • Apr 20, 2020 1:29am Apr 20, 2020 1:29am
Gold / Crude spread out of control. Average Gold Crude ratio over the last 25 years has averaged 15.8, with 6.2 being the lowest and 47 being the highest in that period. Right now its around 120.

I think we will be looking at the crash of the US dollar this year and the recovery of the commodities market.
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-04-20_1621.png Size: 188 KB
  • #12,987
  • Edited 4:06am Apr 20, 2020 2:28am | Edited 4:06am
Quoting squawk
{quote} Have started buying crude now as we are now in the territory for the lows of 80, 94 and 98. {image} {image}

Thoughts are that $15 ish might become support here based on contract pricing.

June versus May..

Volume 240k versus 42K

exp 21April
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2020-04-20_1727.png Size: 88 KB
Click to Enlarge Name: 2020-04-20_1902.png Size: 201 KB
  • #12,988
  • Apr 20, 2020 3:54am Apr 20, 2020 3:54am
Quoting squawk
EG thoughts possible trade pullback against current trend. {image}
Took some profit and brought stop to just below the open.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2020-04-20_1350_001.png Size: 197 KB
Click to Enlarge Name: 2020-04-20_1852_001.png Size: 194 KB
  • #12,989
  • Apr 20, 2020 4:12am Apr 20, 2020 4:12am
Crude WTI calendar spread May June in graph. -8.61!! Mostly been a front month sell off with that May contract expiring tomorrow.
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-04-20_1908.png Size: 115 KB
  • #12,990
  • Apr 20, 2020 4:29am Apr 20, 2020 4:29am
Alberta is a bit screwed with Western Canadian Select crude turning into negative today. The lack of the government to input the infrastructure pipeline required is now screwing them.

-0.15 bbl
  • #12,991
  • Apr 20, 2020 6:57am Apr 20, 2020 6:57am
If WTI crude gets to $10 today that will fall in at around 45 - 50% drop in one day and put the Gold / Crude ratio at nearly 170! thats insane.
  • #12,992
  • Apr 20, 2020 2:31pm Apr 20, 2020 2:31pm
I hope you can manage/have got out of your WTI positions. I think the May WTI contract was probably the most insane thing I have seen in 5 years of trading, well at least up there with the swiss peg.
  • #12,993
  • Apr 20, 2020 4:45pm Apr 20, 2020 4:45pm
Quoting Steamroller
I hope you can manage/have got out of your WTI positions. I think the May WTI contract was probably the most insane thing I have seen in 5 years of trading, well at least up there with the swiss peg.
Hi Steamroller, all good I got out when 14 - 15 didn't hold as support with no obvious strong buying.

Crazy pointer of whats ahead in the market......
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2020-04-20_2031_001.png Size: 101 KB
Click to Enlarge Name: 2020-04-21_0743.png Size: 111 KB
  • #12,994
  • Apr 21, 2020 2:27am Apr 21, 2020 2:27am
NATGas shorts
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2020-04-21_1636.png Size: 157 KB
Click to Enlarge Name: 2020-04-21_1636_001.png Size: 187 KB
  • #12,995
  • Apr 21, 2020 2:29am Apr 21, 2020 2:29am
Quoting squawk
{quote} Hi Steamroller, all good I got out when 14 - 15 didn't hold as support with no obvious strong buying. Crazy pointer of whats ahead in the market...... {image} {image}
Rollover to June contract sees WTI back to $20. Still like the $15 as support.
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-04-21_1729.png Size: 78 KB
  • #12,996
  • Apr 21, 2020 4:20am Apr 21, 2020 4:20am
Quoting squawk
{quote} Took some profit and brought stop to just below the open. {image} {image}
Taken most out and will leave little in for possible higher. Last lot, Stop in profit.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2020-04-20_1350_002.png Size: 186 KB
Click to Enlarge Name: 2020-04-20_1852_001.png Size: 194 KB
Click to Enlarge Name: 2020-04-21_1916_002.png Size: 175 KB
  • #12,997
  • Apr 21, 2020 4:38am Apr 21, 2020 4:38am
Quoting squawk
{quote} Rollover to June contract sees WTI back to $20. Still like the $15 as support. {image}
WTI, Craziest chart I have ever seen in all my trading. Rollover to $21, 21 x open and then back down through $15 to almost $11
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-04-21_1935.png Size: 103 KB
  • #12,998
  • Apr 21, 2020 3:51pm Apr 21, 2020 3:51pm
Quoting squawk
NATGas shorts {image} {image}
NATGas shorts all out.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2020-04-21_1636.png Size: 157 KB
Click to Enlarge Name: 2020-04-21_1636_001.png Size: 187 KB
Click to Enlarge Name: 2020-04-22_0648.png Size: 99 KB
  • #12,999
  • Edited 4:42pm Apr 21, 2020 3:57pm | Edited 4:42pm
Quoting squawk
{quote} Taken most out and will leave little in for possible higher. Last lot, Stop in profit. {image} {image} {image}
EG - update mostly all out but still holding last long and looking for 90 ish.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2020-04-22_0655.png Size: 167 KB
Click to Enlarge Name: 105.png Size: 192 KB
  • #13,000
  • Apr 21, 2020 4:00pm Apr 21, 2020 4:00pm
Quoting squawk
TESLA Short?? time stamp. {image}
Telsa - First sign of reversal in.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2020-04-15_1759.png Size: 129 KB
Click to Enlarge Name: 2020-04-22_0659.png Size: 162 KB
0 traders viewing now