There is a gap that was created on the open last night vs. the close on Friday. They are trying their hardest to fill that gap, and as of this writing, they are finally about to fill it. After that, I'd be careful of prices rallying again. Maybe not, but that's what I would expect and be concerned with at this point.
5% - 10% profit per day trading
- Thread starter spanish89
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Target hit and surpassed.
Later tonight and tomorrow we will see an attempt on $35 and then its plain sailing to the $30s, baby!
Quote from Trader_Dante:
Target hit and surpassed.
Later tonight and tomorrow we will see an attempt on $35 and then its plain sailing to the $30s, baby!
Where do you see the floor Dante?
I have been thinking about a big long-term position soon.
If you look back to when oil was $20 a barrel the Dollar index was 120+ it is now 80. So $20 is now $30 thanks to the currency devaluation. This does not take account of general inflation in the meantime which is 10-15%.
Based on this, oil surely can't go much below $30 and it has to be one of the buys of the century at this level. Personally, I just hate catching a falling knife.
Any time you see a gap open like we had last night, expect prices to try and at least fill the gap. Prices won't always turn back up afterwards, but I expected that today because we are now in a long cycle. No way to tell how far this cycle will go just yet, but make no mistake, we are in a long cycle, even if it's only temporary and ends today.
Until I see otherwise, the double confirmation that was given on this cycle hints that it could be a longer term upward cycle. Again, it's early, so any longs should be nimble and well protected for now. One interesting fact: it's amazing how many times you will get some outside factor that they credit for the turn, when it was projected to happen over 3 weeks ago. It's simply the cycle, and they can say it's because of Isreal or whatever, but I had marked last Thursday as a possible bottom, even if only temporary, a little over 2 weeks ago.
Aloha everyone and im glad to see you all made lots...
I didnt trade today as not feeling good cos of personal life stuff, and cos i expected it to be a flat day overal with prices being pulled hard both ways at same time.
Im glad to see that my call about buying on saturday when it was in the 37s,
and my target of 40.86 / 41.26,
all played out so well though...
I didnt trade today as not feeling good cos of personal life stuff, and cos i expected it to be a flat day overal with prices being pulled hard both ways at same time.
Im glad to see that my call about buying on saturday when it was in the 37s,
and my target of 40.86 / 41.26,
all played out so well though...
Dude, I've been up all night, drinking some scotch (Ardbeg 
) and checking the markets and have noticed the same thing. The volume over the past week has been dead. Not just oil, but all markets. Go look at the ES volume. Terrible!
) and checking the markets and have noticed the same thing. The volume over the past week has been dead. Not just oil, but all markets. Go look at the ES volume. Terrible!- Status