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Attachments: US Crude Oil with smart VSA and Dark Seasons [only]
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US Crude Oil with smart VSA and Dark Seasons [only]

  • #141
  • Jun 10, 2014 1:53pm Jun 10, 2014 1:53pm
USDCAD is on the verge of posting a bearish engulfing candle on the hourly chart; this might be the reversal for the downside...

On the daily chart it seems to have tested resistance and should move lower (which is in line with yearly moves)

Oil though even though just whisked past its recent top; has not so far closed above its recent high --- therefore it can swing both ways still; have to watch price action in the next few days; if price keeps posting doji's on the daily in these areas then we are heading down again... but if we do close above 105 area; then a breakout for the upside is confirmed....
  • #142
  • Jun 10, 2014 2:08pm Jun 10, 2014 2:08pm
Continued.... It's like Magic.... Remember what I said, just day trade speed bumps all day up and down and you won't be sorry...

....maybe a few more bounces or a drop off.... who knows.... tomorrow's another day, ... another dolla'

Attack like a Lion..... Rooooooaaaaaaarrrrrr!

Attached Image


Quoting JoeNY
What up Acid, You don't need volume and any other crap. Check out this thread Acid if you haven't already. It's a gem. FX Institutional guys talking the game. They quote even if they had total volume, they can't see any use for it. Futures/Commodities we have it... I don't use.. Supply & Demand aka Order Flow aka Price Action 1. First top 2. Second top 3. Cap on Price E. Price Engulfs previous low. Price is saying I want to go lower. E. And yet again another engulf pin. Price is saying...
SPC * Swollen PocketZ Crew!
  • #143
  • Jun 10, 2014 3:25pm Jun 10, 2014 3:25pm
Quoting JoeNY
Continued.... It's like Magic.... Remember what I said, just day trade speed bumps all day up and down and you won't be sorry... ....maybe a few more bounces or a drop off.... who knows.... tomorrow's another day, ... another dolla' Attack like a Lion..... Rooooooaaaaaaarrrrrr! {image} {quote}
Joe your humour is absolutely priceless regarding thee lion but what is just as priceless is the info from you, Waleed and CT combined, anyone who arrives on this thread is in for a masterclass, to you all keep up the good work and for could be or would like to be traders like myself a big thank you.
  • #144
  • Edited 4:05pm Jun 10, 2014 3:48pm | Edited 4:05pm
Hey there Don,

Anyone can draw lines on a chart and fire off trades.

COMPLETELY useless without the knowledge of where and when to take profits.

Then there's DISCIPLINE. Greed can tap you on the shoulder at anytime. Today, tomorrow or even 10 years from now. Don't forget that. The better you get at figuring this out, the bigger the temptation to take more chances.... NO ONE TELLS YOU THAT!!!

I repeat.... DON'T FORGET THAT! Greed is always waiting around the corner to take you and I out.

Everything on Red ...... <- and that's my P.S.A.

1-5% and stick to what you know.

Patience.

Quoting don555
{quote} Joe your humour is absolutely priceless regarding thee lion but what is just as priceless is the info from you, Waleed and CT combined, anyone who arrives on this thread is in for a masterclass, to you all keep up the good work and for could be or would like to be traders like myself a big thank you.
SPC * Swollen PocketZ Crew!
  • #145
  • Jun 10, 2014 4:11pm Jun 10, 2014 4:11pm
Quoting JoeNY
Hey there Don, Anyone can draw lines on a chart and fire off trades. COMPLETELY useless without the knowledge of where and when to take profits. Then there's DISCIPLINE. Greed can tap you on the shoulder at anytime. Today, tomorrow or even 10 years from now. Don't forget that. The better you get at figuring this out, the bigger the temptation to take more chances.... NO ONE TELLS YOU THAT!!! I repeat.... DON'T FORGET THAT! Greed is always waiting around the corner to take you and I out. Everything on Red ...... <- and that's...

Now this post deserves to be framed!
  • #146
  • Jun 10, 2014 11:06pm Jun 10, 2014 11:06pm
Right from 101 till 104, you've been selling and selling and selling, nothing but selling, regardless of your analysis, I wonder how P/L is treating your account?

Quoting JoeNY
What up Acid, You don't need volume and any other crap. Check out this thread Acid if you haven't already. It's a gem. FX Institutional guys talking the game. They quote even if they had total volume, they can't see any use for it. Futures/Commodities we have it... I don't use.. Supply & Demand aka Order Flow aka Price Action 1. First top 2. Second top 3. Cap on Price E. Price Engulfs previous low. Price is saying I want to go lower. E. And yet again another engulf pin. Price is saying...
Hello World!
  • #147
  • Jun 10, 2014 11:59pm Jun 10, 2014 11:59pm
Interesting analysis skip. I guess you can't comprehend how a bear "day trades" line to line?

But you do know how to bust balls....

What is it with investors and fundamentalist? Go hate HFT's not day traders...

I won't bother contributing to the thread you started... no worries mate... What do I care...



Quoting ClockTrader
Right from 101 till 104, you've been selling and selling and selling, nothing but selling, regardless of your analysis, I wonder how P/L is treating your account? {quote}
SPC * Swollen PocketZ Crew!
  • #148
  • Jun 11, 2014 12:06am Jun 11, 2014 12:06am
Quoting JoeNY
I won't bother contributing to the thread you started... no worries mate... What is it with investors and fundamentalist? {quote}
This place will be a lot less noisy without you. Thanks!

As for investor's fundamentals? I'm sure you didn't read Post 1 and 2 of this thread.
Hello World!
  • #149
  • Jun 11, 2014 12:09am Jun 11, 2014 12:09am
Not a problem....

Quoting ClockTrader
{quote} This place will be a lot less noisy without you. Thanks! As for investor's fundamentals? I'm sure you didn't read Post 1 and 2 of this thread.
SPC * Swollen PocketZ Crew!
  • #150
  • Jun 11, 2014 6:49am Jun 11, 2014 6:49am
So far oil has met resistance on this up leg; hence there is a good possibility if 105.22 is not taken out we will revisit 103.4 and 102.90 levels for a retracement.... After which I believe we will move up to 107.5 region...
  • #151
  • Jun 11, 2014 9:47am Jun 11, 2014 9:47am
What effect should the inventories have as it is double what was expected ?
  • #152
  • Edited 10:44am Jun 11, 2014 10:33am | Edited 10:44am
Quoting don555
What effect should the inventories have as it is double what was expected ?

There is a shortage so price should be up... but it is generally hard to play inventories as many big player trade crude; and hence they're can be stop hunting... *( if it was that easy; then everyone would just be trading crude and making money) A case could be made that a shortage was already priced in also...

Last wednesday... there was also a shortage; but price fell steeply until it finally retraced later; if I remember this correctly...

I suspect something like that might happen again; if the 1hr chart posts a pinbar as it is indicating right now... (it is so far indicating a double test rejection)

*This is a pivotal zone nonetheless as there is a lot of open interest to drive price up as it price is very close to its yearly highs...and everyone expects a breakout soon a well; not to mention with the city in Iraq that is taken by terrorists (it will certainly get priced into the market at some point too)
  • #153
  • Jun 11, 2014 11:01am Jun 11, 2014 11:01am
Full Moon around and it can get volatile ahead, tomorrow maybe, lots of high impact data ahead.

I would suggest trade light and safe, whatever your direction.
Hello World!
  • #154
  • Jun 11, 2014 11:20am Jun 11, 2014 11:20am
Quoting ClockTrader
Full Moon around and it can get volatile ahead, tomorrow maybe, lots of high impact data ahead. I would suggest trade light and safe, whatever your direction.

Hey CT; do you follow financial astrology?

I really don't know much about it; but I've met some Gann followers...

Either way I have heard that jupiter moves into cancer on july 1st...and jupiter represents gold and it gets exalted in cancer -- hence this can be bullish for gold? Would you know about this?
  • #155
  • Jun 11, 2014 1:48pm Jun 11, 2014 1:48pm
Quoting ClockTrader
Full Moon around and it can get volatile ahead, tomorrow maybe, lots of high impact data ahead. I would suggest trade light and safe, whatever your direction.
thats the Q now, whats the direction, both forces are playing very balanced now, my opinion short term data is supportive for a Spike Up, Medium term (2 month) for a collapse to $96.

my current thinking is wait for a spike to $105.5 / $106 land then wait for retracement to go long term trade aiming $102 .
  • #156
  • Jun 11, 2014 2:00pm Jun 11, 2014 2:00pm
Quoting acidguy
{quote} thats the Q now, whats the direction, both forces are playing very balanced now, my opinion short term data is supportive for a Spike Up, Medium term (2 month) for a collapse to $96. my current thinking is wait for a spike to $105.5 / $106 land then wait for retracement to go long term trade aiming $102 .
I think a price below $100 is very highly unlikely for the whole summer. But if you see such a big move down from $106 why wouldn't you short it?
  • #157
  • Jun 11, 2014 2:19pm Jun 11, 2014 2:19pm
The 50 Ema seems to be holding well on the hourly chart...

The market structure has started making lower highs; this leg up is again another attempt by bulls to drive prices up...If a new high is not made then prices should head down to support area; where we have the 50% and 61.8% retracement levels... plus I do have a few gaps in that area too...
  • #158
  • Edited 3:11pm Jun 11, 2014 2:58pm | Edited 3:11pm
Quoting atom3
{quote} I think a price below $100 is very highly unlikely for the whole summer. But if you see such a big move down from $106 why wouldn't you short it?
at End of Juny, July many oil platforms in USA which are under manteinance come online again, there is going to be a huge surplus of crude Oil in the months ahead,

Technically Speaking and not fundamentally, look like were in a strong Uptrend.
but...
the 1 million dollar Question again, trade Technical or Fundamentals?
  • #159
  • Jun 11, 2014 11:05pm Jun 11, 2014 11:05pm
Quoting waleed.khan
{quote} Hey CT; do you follow financial astrology? I really don't know much about it; but I've met some Gann followers... Either way I have heard that jupiter moves into cancer on july 1st...and jupiter represents gold and it gets exalted in cancer -- hence this can be bullish for gold? Would you know about this?
Yes mate, I do use Lunar Cycles.

Jupiter would be highly exalted after 19th of June that is when it enters Cancer as per ancient Indian Astrology, but effects should begin to show up after next new moon till Full Moon.

The best effects would be visible by this year end for Gold. Expansion and growth on Earth will reach new highs. Expect Gold to go up.

Are there any Gann threads dedicated to financial astrology?
Hello World!
  • #160
  • Jun 11, 2014 11:06pm Jun 11, 2014 11:06pm
Quoting acidguy
{quote} thats the Q now, whats the direction, both forces are playing very balanced now, my opinion short term data is supportive for a Spike Up, Medium term (2 month) for a collapse to $96. my current thinking is wait for a spike to $105.5 / $106 land then wait for retracement to go long term trade aiming $102 .
The season should give a final push to Crude towards North, maybe after a dip or spike in South.
Hello World!
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