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Whether you believe in cycles or not.
Whether you believe in manipulation or not..
Whether you believe in Santa Claus or not.....
OPEC News and Events that moved oil, and the trajectories that followed.
More recent channel trajectories.
Whether you believe in cycles or not.
Whether you believe in manipulation or not..
Whether you believe in Santa Claus or not.....
OPEC News and Events that moved oil, and the trajectories that followed.
More recent channel trajectories.
Note
Sorry meant to add this to idea update, not comment..-
Added Trump speech with dollar swing.. no other changes. Also in daily heikin, helps smooth out. Heikin is perfect as it is momentum based.
Remember, this is no math... Like art class. Lol
All stocks are moved by news.. but Apple doesn't get news every week that will most likely move it 10% or more. We deal we 2-3% changes every few days.. and 1% changes are baked into our days.. News not only moves oil more, it is scheduled into our weekly trading plans API, EIA, OPEC...
So think of it this way... regardless of news, oil should head in a direction based on pure production/inventory/consumption. News is the engine that powers the path (channel) dinamics. Why is that the top of channel?.. Why is that the bottom? Long term Up or down channels are defined by the news (fake or not), reports, and events.
This chart looks to note news and events as they occur in channel. Not predict impact.. although past review will show +pos impact is less at top of channel, and vices versus at bottom of channel. I call this the velocity of news.
Then again, it may be the moon creating these patterns.. in any case a break would cause me to re-evaluate my next step...
How dose this help me? Just anouther lens to see the forest and the trees. Put down your calculator..
Note
-Update we have broken the inner velocity curve. (Yellow). And we are parked at the middle of the channel. Still plenty of room, as breaking the yellow line is common on this side of curve. To break out it would need to break the 2+ year trend. That would be a break off both patterns.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.