Trade fearless not careless...
Syed Mohsin Ali Profit This Month:
-137
- #7,863
- Apr 29, 2020 2:06pm Apr 29, 2020 2:06pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
WTI significant break above $17.75 could begin a rally higher, but fundamentals simply don't support this as yet. Meanwhile, a break below $14.35 could see a move down to the $10.50 zone. I am more inclined towards a move down, given inventories and production. {image}
- #7,873
- Apr 29, 2020 11:34pm Apr 29, 2020 11:34pm
- Joined Feb 2016 | Status: Full Time Trader. | 5,429 Posts
According to my complex analysis with many backtests and real market trading... I can conclude that regarding the WTI I can state this... {image} But I have approached the issue from another way... Will track the market that seems to "work" and will just observe the correlation, if there is any(more)But seriously... Not the best week to trade due to many things.. (May Holidays), flirting (but not there yet) with EU lockdown removals... etc etc... I can say that this week is "learn not to trade" CHECKED [X], in my book. But I am confident...
Well looking to load another set of longs on the cross around 10.69, would be around the 38 fib from the low of this current rally from the weekly lows and also a couple of pips slightly below last weeks high,
Not trying to complicate it, just looking to see of we making a new set of HH and HL....
Have a good one mate....
4&1 All Time Profit:
$37,496
- #7,874
- Apr 29, 2020 11:40pm Apr 29, 2020 11:40pm
- Joined Feb 2016 | Status: Full Time Trader. | 5,429 Posts
4&1 All Time Profit:
$37,496
- #7,876
- Apr 30, 2020 12:33am Apr 30, 2020 12:33am
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
Guys, is it just me or is WTI good for entering BUY right now? Price now 14.180...
{quote} Closing the trade at TP 14.72... (0.54 price difference). Not bad, it went into a dive in between but still good in my book, specially at current market conditions.
) yesterday about this TP (profit) but now I see (now in retrospect) that I closed it MUCH earlier... Still, better than the possible alternative in this unpredictable/swinging market...However, we might see the "light" soon, meaning that WTI might start to rise (again)… EU lockdowns are now relaxing and going toward removal (soon - if all goes well), at least in some EU countries... So if this is going as it does now... we can see some good RISE in the HORIZON... But more will be confirmed next week, maybe till/in the first half of it even!
Can you afford to take that chance?
- #7,877
- Apr 30, 2020 12:41am Apr 30, 2020 12:41am
- Joined Dec 2008 | Status: Trader | 2,931 Posts
persistence and determination alone are omnipotent
- #7,878
- Apr 30, 2020 1:14am Apr 30, 2020 1:14am
- Joined Dec 2008 | Status: Trader | 2,931 Posts
persistence and determination alone are omnipotent
- #7,879
- Apr 30, 2020 1:31am Apr 30, 2020 1:31am
- | Joined Apr 2008 | Status: Trader | 1,312 Posts
{quote} {quote} Well was quite "happy" (yes I know, detachment FTW
- #7,880
- Apr 30, 2020 1:35am Apr 30, 2020 1:35am
- Joined Sep 2017 | Status: Still a total mystery | 3,569 Posts
{quote} what about storage still filling up? at slower pace, but nevertheless it's still a problem. Don't you think that will force prices to go lower?
)… So it might help us preventing spikes (I much prefer the STEADY rise, for the good trendsurf, with higher leverage if possible, the steadier the higher the possible leverage for good profits), hopefully, because I really dislike strong SPIKES than to be dumped again... so hopefully no pump&dump, not this tump.. hah, literally I also think they are not interested in PUMPING and then DUMPING, if they have at least some horizon or feel for the big picture...More to be known next week, overall news atm might seems almost very optimistic, but have to wait for this to settle, luckily, speaking of corona, due to EXP function, we will see it fast, by end of next week... At least this is what I hope/believe/calc for
Can you afford to take that chance?