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Disliked{quote} support and resistance areas should be viewed as blocks/zones as oppose to lines...but i see 103.3 to 103.6 as a zone... as price has found support and resistance there and thus swung... Above that one can argue there is an extention to that all the way to 103.8...that is why it becomes difficult to trade in a choppy area...Ignored
Disliked{quote} I am going to wait for a little while and see how this hourly candle develops.. If it ends up as a bearish pinbar then I will be short... as price is close to 61.8 fib level which has been a pattern in this down trend; plus we made a lower low yesterday; hence until we don't take out the last top we are still bearish... As far as 'gaps' are concerned.. I have one at 101.8 region... Plus an ab=cd evaluation also projects price at 101.2 to 101.5 zone...(Plus when I see the market history there is some support in that area... Taking these things...Ignored
Disliked{quote} Hello Waleed you say that you have a gap at 101.8 region on what date did this occur and on what charts do you follow that give you those gaps ? I believe that we will get there sometime soon, but personally I did not trade yesterday Friday because of NFP as I am of the opinion that the liquidity is not there to let us reach our open gap, liquidity gap or S&D areas which I now perceive as the same destination for making a trade. Have a good weekend and all the best for next week.Ignored
DislikedI think I said like few dozen times in the past 10 days that my sentiment for Crude is bullish with support around 101 and 102 and here it is @ 104 looks good, feels good to be right :-) Thank you all for your contribution! {image}Ignored
Disliked{quote} Hey CT, what will be the maximum High for Crude based on Technicals and to some extent Fundamentally. Currently sentiment is looking very Bullish. Thanking you in advance.Ignored
Dislikedtaking a light short at 104.65 to 103.80 area to trade a possible retracemente from resistance, if USA Oil inventories come high i think were gonna be range for some days before a next leg up, day before the report prices should continue to edge lower temporarly. there is a nice example in Natural Gas Prices, there is a wall of resistance at 4.70, when Russia and China made the trade prices spiked up but USA Natural Gas Rising inventories have the price capped and have sent them down many times even when analyst suggested a fast trip to $5 ( probably...Ignored
Disliked{quote} Price is exactly at the 3 highs formed this year so if we are going to retrace it should be now but on other hand i don't think we are ready yet to go higher like 108. Maybe if inventories tomorrow support such a move but based on past years it's still early.Ignored
DislikedI think I said like few dozen times in the past 10 days that my sentiment for Crude is bullish with support around 101 and 102 and here it is @ 104 looks good, feels good to be right :-) Thank you all for your contribution! {image}Ignored
Disliked{quote}Currently I am seeing pa and the possibility of forming a new high ; which might be an early indicator that the trend is about to go upward... still have to wait and see... Personally I would like to see one more leg down (Volume does not support this current rise) and then move up higher to hit our seasonal highs in august/september....Ignored
Disliked{quote} CT well done you gave us plenty of warning what to expect. As a matter of interest where did you get in and why ?Ignored
Dislikedim exiting my short Oil trades at 104.30 with some little profit, im personally amazed with the current down move, was not expecting it after news got released, a spike to 105 land for positive data, then started to fall quickly making lower lows M30. would love to test some indicators related to volumes to have more accurate info about reversal and better entries, so far the most Accurate Indicator i have been using the last 2 months is "Parabolic Sars" (wow accuracy) sum it "RSI" and u have a powerful combination.Ignored