Charts For No Reason

Well, long term, I added to my Longs crude oil position, MACD going down, RSI below 50, close below Bollinger's, most would say it is all negative, but automation added to Longs/hedged on close.
Am seeking Crude Oil to get above 93 before I can reverse my position. Plus, makes no sense price going down, holidays kicking in so more car, truck and air miles. Need fuel.

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Handle123 said:
Well, long term, I added to my Longs crude oil position, MACD going down, RSI below 50, close below Bollinger's, most would say it is all negative, but automation added to Longs/hedged on close.
Am seeking Crude Oil to get above 93 before I can reverse my position. Plus, makes no sense price going down, holidays kicking in so more car, truck and air miles. Need fuel.

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If I may be so bold, get out of your oil position, stat.
 
Overnight said:
Have you ever actually read an EIA report when it is released? It's insane what can go on at times. Here's yesterday's report...

https://ir.eia.gov/wpsr/wpsrsummary.pdf

And mind you, it is the third paragraph in the report that has the impact on the prices. Nothing above or below that 3rd paragraph.
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Of course I read the report which is why I went long. Did you understand the report? Oil is heading higher. For the most part I don't short it.

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easymon1 said:
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nice support at the fifty.
reminds me of a haramibolli trigger on your chart https://www.elitetrader.com/et/thre...t-right-here-baby.335635/page-12#post-5066694
btw, doji best friend trade after Sep 21 worked in spades.
https://www.elitetrader.com/et/thre...t-right-here-baby.335635/page-21#post-5368378
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You like to read charts and understand R:R. The PA pounced from the 50MA. Do you now put the SL a little bit below the 76.25 level or somewhere else?
 
oraclewizard77 said:
Of course I read the report which is why I went long. Did you understand the report? Oil is heading higher. For the most part I don't short it...
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But you are forgetting the Biden freak out! That WILL have an impact. We also must keep an eye on the Baker Hughes reports...Next one tomorrow afternoon EST.
 
Overnight said:
But you are forgetting the Biden freak out! That WILL have an impact. We also must keep an eye on the Baker Hughes reports...Next one tomorrow afternoon EST.
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Well oil is closed Friday night so that report holds no meaning to me. LOL. I don't trade during the day, I am a working slave. LOL.
 
Handle123 said:
Am seeking Crude Oil to get above 93 before I can reverse my position. Plus, makes no sense price going down, holidays kicking in so more car, truck and air miles. Need fuel.
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Don't like the lower low it made yesterday. We might head down to $72 before bouncing back. On a macro level, Biden admin is looking to go witch hunting on oil companies to bring prices back down.
 
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