Crude Oil Rogue downwave starts soon

Im going to put a short on next week at 100+ which should pay out after new year hoping a war does not happen in between but I might hedge with something else!
 
Add to existing Short on Trendline break
 

Attachments

  • Crude Oil 4H.jpg
    Crude Oil 4H.jpg
    302.4 KB · Views: 263
deadbroke said:
Short NOW @ 99.4
Click to expand...

from a purely price action perspective WTI looks like the ar5e could fall out of it. certainly if it trades below $99 in the next couple of days it will probably fall fast to $95 then from there test the $90 level.

on another point Gold is looking very very weak, if it trades below $1533 it should drop like a stone, the monthly chart with the huge outside bar is brutal.
 
MajorDutch said:
from a purely price action perspective WTI looks like the ar5e could fall out of it. certainly if it trades below $99 in the next couple of days it will probably fall fast to $95 then from there test the $90 level.

on another point Gold is looking very very weak, if it trades below $1533 it should drop like a stone, the monthly chart with the huge outside bar is brutal.
Click to expand...


Gold Daily has busted a major uptrendline on both Arith and Log, then rallied to kiss it and now appears to have waved goodbye to it as she flees - to where?

To Argentina, hehehehe.

Daily trend is DOWN, 4H trend is DOWN.
 
I would like to see Crude 4H break below the 50 and 200 m.a. on 4H - then we will be rolling as the trend will surely gather speed thenceforth. I would love to be paying just $1/gal in the future.
 
deadbroke said:
Gold Daily has busted a major uptrendline on both Arith and Log, then rallied to kiss it and now appears to have waved goodbye to it as she flees - to where?

To Argentina, hehehehe.

Daily trend is DOWN, 4H trend is DOWN.
Click to expand...

Thanks, first good news I have heard in months.
 
deadbroke said:
Gold Daily has busted a major uptrendline on both Arith and Log, then rallied to kiss it and now appears to have waved goodbye to it as she flees - to where?

To Argentina, hehehehe.

Daily trend is DOWN, 4H trend is DOWN.
Click to expand...



Daily trend is DOWN, 4H trend is DOWN. Southbound train stopped in Peru and is taking a nice break that is causing Dennis Gartman to nearly start nibbling.
Will we go to Argentina? I believe so but the only important thing worth knowing at this time is

Daily trend is DOWN, 4H trend is DOWN. Remain SHORT.
 
deadbroke said:
I would like to see Crude 4H break below the 50 and 200 m.a. on 4H - then we will be rolling as the trend will surely gather speed thenceforth. I would love to be paying just $1/gal in the future.
Click to expand...



Crude did not break below the 2 m.a.s.

Losses now, but SHORT still on. No change in stance as Crude challenges the 4H top
 
deadbroke said:
Crude did not break below the 2 m.a.s.

Losses now, but SHORT still on. No change in stance as Crude challenges the 4H top
Click to expand...


I duno much about oil ...are the crude charts you are looking at the same as brent crude ?

or similar ?
 
I was long from 108 , but im thinking about shorting this now ...........not sure really, could blow out the trend line just the same ?
 

Attachments

  • mtfcandle.gif
    mtfcandle.gif
    17.1 KB · Views: 168
Hey guy, you might want to start reading besides looking at lines on a chart.
The Straight of Hormuz is about to become a battle field, the Iranians are practicing blocking 20% of oil shipping. Both the Americans and the Iranians are drilling military maneuvers.
People a lot smarter than either one of us think the price of Crude could go anywhere between $250-$500 a barrel soon.
:whistling
 
Depth Trade said:
Hey guy, you might want to start reading besides looking at lines on a chart.
The Straight of Hormuz is about to become a battle field, the Iranians are practicing blocking 20% of oil shipping. Both the Americans and the Iranians are drilling military maneuvers.
People a lot smarter than either one of us think the price of Crude could go anywhere between $250-$500 a barrel soon.
:whistling
Click to expand...

yes I think you are right but you just never know technical or fundamental , that's why I just stick to techs .But yes I still hold a long bias until I get a short signal .
 
Depth Trade said:
Hey guy, you might want to start reading besides looking at lines on a chart.
The Straight of Hormuz is about to become a battle field, the Iranians are practicing blocking 20% of oil shipping. Both the Americans and the Iranians are drilling military maneuvers.
People a lot smarter than either one of us think the price of Crude could go anywhere between $250-$500 a barrel soon.
:whistling
Click to expand...



Stated with utmost humility :) .... the only truth in this game is PRICE. In reality if I were alone, even far from any human contact with just an internet connection and accurate PRICES downloaded to my computer and with NO newspapers, television or contact with experts, non-experts or anybody, I could make a splendid decision of the direction of trade and be correct upwards of 80% of the time

but this is dependent on just one requirement - how good I am at reading the vagaries of PRICE in PRICE's home, the chart. . If I'm good, I live, if bad, I die. In fact, if the latter, DEATH would come swiftly.

That is the bottom-line.
 
price777999 said:
yes I think you are right but you just never know technical or fundamental , that's why I just stick to techs .But yes I still hold a long bias until I get a short signal .
Click to expand...


With fundamental analysis there is a heck of a lot to consider, I mean there is just too much data to review and stay abreast of - maybe others have the ability to cope with this, I do not.

This stuff with Iran, sure I'm aware of it, who isn't? But I don't know which way it will go and I don't have knowledge of the insider issues that will precipitate such outcomes, so in essence I don't have the truth.

I want just the truth and then I go with it.

PRICE is the only truth I know in markets and PRICE's home is the technical chart, but having the ability to read PRICE is a whole other issue and one that I cannot possibly claim to have, only claim that I would love to have it and will keep trying and trying for there is no other better aspiration - to me anyways.

:)
 
You must log in or register to reply here.

Similar threads

I
Crude Oil
Replies
3
Views
2K
jb1981
J
Z
Crude oil
Replies
1
Views
7K
Smith2525
S
O
Crude Oil in Rise - Awaits Data
Replies
4
Views
3K
owais
O
T
View on crude oil
Replies
6
Views
8K
sideways-sid
S
Z
Crude oil
Replies
0
Views
7K
ZZZZJ
Z
Top