Auspicious 31 period hourly moving average for Light Crude Oil
Hello everyone! I am student and want to trade a little with my savings so that I can learn the basics and have my burns early.
I was always fascinated by the graphs and technical analysis, but I would not consider myself at all proficient at it. Nevertheless, I do enjoy taking the chalk to the charts!
TA always felt like a method of minimizing uncertainty, often unfortunately bordeline to predictions with a crystal ball. The first graph I publish is my look into the crystal ball for the current (February 2019) WTI oil market (I hope that is the one, still not 100% clear on the different types).
The chart is HOURLY, the white dotted line is the 31 period normal moving average.
The crystall ball with this one seems clear and simple:
1. Look to BUY when price is below!
2. Look to SELL when price is above?
Caveats; it is a clear uptrend within which I am denoting my observations;
oil reacts to geopolitics or twitter politics, can't predict those consistently (especially the latter);
I am less confident with the sell option just glancing at the graph, but the buy occasions seem very auspicious.
Unfortunately, I did not trade any of these. I entered CL Oil after the whole commotion with the Trump tweet, but in the future I will keep an eye out for opportunites to test this observation.
I expect the post-Trump tweet recovery to retrace below the observed moving average before the previous uptrend continues explosively, especially regarding the possibilities for armed escalation between India/Pakistan, and OPEC defying the USA due to Russian backing.
Thank you for reading and I look forward to joining the community here at tradingview!
Strossi
I was always fascinated by the graphs and technical analysis, but I would not consider myself at all proficient at it. Nevertheless, I do enjoy taking the chalk to the charts!
TA always felt like a method of minimizing uncertainty, often unfortunately bordeline to predictions with a crystal ball. The first graph I publish is my look into the crystal ball for the current (February 2019) WTI oil market (I hope that is the one, still not 100% clear on the different types).
The chart is HOURLY, the white dotted line is the 31 period normal moving average.
The crystall ball with this one seems clear and simple:
1. Look to BUY when price is below!
2. Look to SELL when price is above?
Caveats; it is a clear uptrend within which I am denoting my observations;
oil reacts to geopolitics or twitter politics, can't predict those consistently (especially the latter);
I am less confident with the sell option just glancing at the graph, but the buy occasions seem very auspicious.
Unfortunately, I did not trade any of these. I entered CL Oil after the whole commotion with the Trump tweet, but in the future I will keep an eye out for opportunites to test this observation.
I expect the post-Trump tweet recovery to retrace below the observed moving average before the previous uptrend continues explosively, especially regarding the possibilities for armed escalation between India/Pakistan, and OPEC defying the USA due to Russian backing.
Thank you for reading and I look forward to joining the community here at tradingview!
Strossi
Trade active:
Test n1: Successful
I tested my observation with a conservative amount and trade; note I did this on etoro which has different price since its not exactly the same instrument being traded; but the prices are commensurate.
Opened at 11:14 CET 56.73$ > Closed at 13:43 57.07$
Leveraged 100x > 59.93% profit
Bought on the first hour candle which closed under the white dotted line.
I tested my observation with a conservative amount and trade; note I did this on etoro which has different price since its not exactly the same instrument being traded; but the prices are commensurate.
Opened at 11:14 CET 56.73$ > Closed at 13:43 57.07$
Leveraged 100x > 59.93% profit
Bought on the first hour candle which closed under the white dotted line.