Howdy!
How's it going?
Weirdo markets right now in my opinion.
But there's always a market we can play.
Let's see what we have on Crude Oil:
Isn't that price behavior wonderful?
The max. excursion line marks the upper resistance on the weekly time frame.
Go, watch crude on the weekly. There's a observation to make, right at the top of EACH of these turning points. Tell me what you find ;-)
Now, since we have identified the upper extreme (we have a high probability that it IS the upper extreme for now), we can look for a trip to the south = shorting the market.
Five signs as a filter:
1. a tiny H&S
2. break of a short term TL
3. break of the RSI
4. divergence of the AO
5. second cross of the MACD
I really don't need more to short this market ;-)
Don't forget to let me know what observation you made on the weekly.
How's it going?
Weirdo markets right now in my opinion.
But there's always a market we can play.
Let's see what we have on Crude Oil:
Isn't that price behavior wonderful?
The max. excursion line marks the upper resistance on the weekly time frame.
Go, watch crude on the weekly. There's a observation to make, right at the top of EACH of these turning points. Tell me what you find ;-)
Now, since we have identified the upper extreme (we have a high probability that it IS the upper extreme for now), we can look for a trip to the south = shorting the market.
Five signs as a filter:
1. a tiny H&S
2. break of a short term TL
3. break of the RSI
4. divergence of the AO
5. second cross of the MACD
I really don't need more to short this market ;-)
Don't forget to let me know what observation you made on the weekly.
Trade closed: stop reached:
Ha!
For such unexpected situations we remember what stops are fore.
Let's see what happens next.
For such unexpected situations we remember what stops are fore.
Let's see what happens next.