Crude, needs to take a knee?

[nooby_mcnoob]

At the moment crude oil is in an uptrend channel which they are desperately trying to hold onto.

When that fails, sure you can go short. I see no benefit to going short until the channel is broken.

That being said, here is the daily.

 

[Overnight]

I don't trade futures because I assume its in the type 1 account (margin), not in the type 0 account (cash).
I don't want any interaction with margin clerks.
I think you are aware they can do whatever they want.
The house rules.
This business is complicated enough.

I know a little bit about commodities, but I never got a Series 3.

You did not answer the question. Where is oil going tomorrow?

Type 1 account, type 0 account? Huh? Dunno what that is.

You started it, and now you cannot stop it.

 

[maxinger]

for the crude oil DAY chart, I only look at the day range.
it has been very wide ie good for day trading.
Don't bother to look at the daily price chart.

yesterday day range was 450 ticks (equivalent to $4500/lot)


so don't wait for a few days/weeks/months to make a profit.
just wait for a few minutes/hours to make a profit.

 

[maxinger]

Don't forget the sub-waves of ABC and abc, and the super and sub-script 1,2,3 that fit in between the ABC,abc,123, etc etc ad nausea

and there are thousands of variations
with the super and sub things, capital letter and small letter things

 

[countryBoy641]

I'm not a daytrader, probably because I don't have to be.
But also because I don't want to be a day trader.
It's too hard to guess every little giggle.

But this is my guess for where crude is going next several weeks.
It hasn't even broken down yet.
38% retrace is $82.80, and that would sit on the highs from last November.
Longer term, it's going much higher.
And you guys need to learn some manners, pronto.

 

[nooby_mcnoob]

I'm not a daytrader, probably because I don't have to be.
But also because I don't want to be a day trader.
It's too hard to guess every little giggle.

But this is my guess for where crude is going next several weeks.
It hasn't even broken down yet.
38% retrace is $82.80, and that would sit on the highs from last November.
Longer term, it's going much higher.
And you guys need to learn some manners, pronto.

View attachment 278274

$82 seems a decent target once the uptrend fails. But if they manage to pump it without failure, whoo boy.

 

[themickey]

Do you people here take "Rudeness Pills"??

I think the problem is, when markets gets a tad volatile, some traders can't handle it, and they get moody af.
They attempt to guess direction usually in the same direction as the crowd, they fail, they get shitty real quick.
My advice to them, when you're always wrong, dont change anything.

 

[gkishot]

I don't trade futures because I assume its in the type 1 account (margin), not in the type 0 account (cash).
I don't want any interaction with margin clerks.
I think you are aware they can do whatever they want.
The house rules.
This business is complicated enough.

I know a little bit about commodities, but I never got a Series 3.

Futures allow you to use leverage, but amount of leverage is totally up to you.

 

[countryBoy641]

Yes

Futures allow you to use leverage, but amount of leverage is totally up to you.

Yes, I certainly know what leverage is and how it works.
But a trader only needs leverage if he is doesn't think he has enough capital.
I'm not in that category.

 

[gkishot]

Yes


Yes, I certainly know what leverage is and how it works.
But a trader only needs leverage if he is doesn't think he has enough capital.
I'm not in that category.

If so, you ought not to be concerned with margin calls and dealing with "margin clerks".