This is intended more as educational material on a strategy for using renko charts. To begin with, I'll be using USOil in the examples but will include other markets as I continue through the series. The material is not intended to prescribe or recommend actual trades as the decision to place trades is the responsibility of each individual who trades as they...
US Oil presents some serious challenges for those looking to short this market. This analysis is time frame dependent. Which way you might want to go depends entirely on trends in respective time frames. DAILY PICTURE 1. On the daily time frame this is very much a bull market. We can see that in the ATR (amber trendline) and the green Guppy investor zone. 2....
Oil on the 1day view and possible targets outlined, trade within and/or watch out for a future break in trend. If oil does stay within channel then expect a drop from around 60.90 - 61.30 If market breaks up then next big target region 67.60 - 68.00 Warning; trading comes with risks, trade safely and within reason. All charts to be used for guideline purposes only.
Understanding trends within a pattern gives analysts the ability to better understand sentiment and directional pressure. In this example, pattern extremities were highlighted. Then, on a lower timeframe, trends within said pattern drawn. Overlaying timeframes is a necessary part of a complete analysis, and a complete commodity analysis can help piece together...
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Below are 3 essential trading routines that i follow on a daily basis. This has been a critical component to my success. Morning Routine 1. Meditation (10 Mins) 2. Gratitude 3. Trading Affirmations (2 Mins) • I am a successful trader • I have a very strict risk management plan • I use a trading journal • I am...
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Technical Analysis 101!! Interpreting the candlestick This type of chart is an extension of the bar chart as discussed and is actively utilised by the investors in China for more than 500 years of time period. It helps in providing the information regarding open, close, low and high in the dimensional format. It can...
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Creating your own Trading Strategy!! Below is a quick run down of things to think about when creating your own trading strategy 1. How much time during the day do you have to devote to trading? .................................................................................. 2. How much money do you need to live on...
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Elements of a Successful Trading Plan 102 2. Risk Level Managing a risk in trading is essential if a person wishes to make profitable investments. As a trader, one cannot control the market but he/ she do have the capacity to change what can be done as circumstances require. They need to adapt the changes as the...
A 3 day chart is very useful in terms of being able to see a major trend reversal. It eliminates the noise of daily or lower timeframe charts and shows the change in trend faster than the higher timeframes such as the weekly and monthly. Keep track of the candles and look for a higher high and higher low candle for the first signal. The USOIL chart above shows a...
RV Simplified: I get this question all the time, and even though the concept is simple, many people have a hard time getting their heads around it. Here is snapshot of above at time of publish. Sept 19, 2018, 7:30am ET. As the above LIVE chart will not last more than a day.. accurately. ——————- Q- When DXY falls, WTI follows right? A- No.. they fall and...
I have created the strategy and traders can use it for their benefit. Have explained how to use it. Traders adjust settings for your instruments. Trend is our friend this is the policy we are trying to achieve with this. This is my first video idea, i will try to do it more and more if time allows me to do so. Please Give your feedback on the strategy and video.
Crude OIL has been in an uptrend since June of 2017, a five-wave cycle that can come to an end. Specifically, we see energy trading within an uptrend channel, currently in the fifth wave that is testing the upper parallel resistance line where the fifth wave can look for a top. In fact, we see a wedge pattern forming up in the last month or so, which is normally...
Crude oil has completed a complex correction labeled as wave II or B at the 42.03 level from where we started to track a new bullish impulse. An impulse is a five wave pattern, so there is room for much more gains on energy market since we see current leg up as blue wave 3 of an impulse. Wave 3) has in general five clear waves, which means oil price can still...
This is a pretty simple model based on a Gann Square and concentric circles and squares. Price over time tends to move up or down 2 circles, or energy levels, before moving in the opposite direction. Since price made a low near the point marked 0, we should expect that the oil price will generally move higher until the circle marked 2. The parabola drawn was...