Oil
oil4.28.20 This is the third video this morning on oil. This is about presses... which are higher tops and bottoms with a minimum of three bars. Because it set up correctly, it was easier to show you the dynamics. I talked about potential scalping techniques that might help you realize more profit potential that might not otherwise occur to you. There is always a risk which is inherent to scalping because of risk: reward issues. Still, it is worth listening to because it is not an intuitive way to trade in real time for many traders who are one-sided thinkers: they think the market is either going up, or does going down when it's not nearly that simple. The other two videos today are much more important regarding oil. In this video I showed my perspective on how presses often include the body of the previous bar, when you listen to the video you'll understand my reference. But what I did not say is that if there is another bar pressing higher tomorrow, the market may retest a good portion of today's bar, and if you are a one-sided thinker, this is not going to be a comfortable experience. My recommendation is to look at and observe it, and see if it's something you can use that is compatible with your requirements as a trader, but don't trade it until you get a feel for this because it might not work for you, and the fact is it doesn't work all the time anyway, and it requires some discretionary real-time analysis; and most importantly...what you have done effects what you are able to do, and what this means is if you're holding a contract at a higher price and your unrealized position in this market reflects that you're already down $1500, you may not want to add a contract because you think the markets going higher, but if it doesn't you are now losing on two contracts. Just watch the relationship and don't trade until you get familiarity and you're comfortable with this type of analysis.
S&P How spot market recovery & what markets to buy & sellZones created using crossovers of Monthly 20 MA on VIX close & 20 MA of same. Like end of crash in 02 & 09 some bulls and bears think this crash will only be confirmed over when TNX closes month above 1.34. See what happened to OIL, GOLD, and DOLLAR last time (green verticals). White verticals denote VIX peak (no guarantee reached that yet). Caveat small sample size & my arbitrary choice of two key TNX levels which just appeared to make this analysis work to perfection on two previous occassions. NOT ADVICE. DYOR.
Bitcoin monthly price chart compare correation with oil and DJIBITSTAMP:BTCUSD
Bitcoin has never been correlated to nothing
BTCUSD, 1M, price chart
CC, USOIL, 20
CC, UKOIL, 20
CC, DJI, 20
When CC reaches 1, there is a perfect correlation.
When CC reaches -1, there is a perfect negative correlation.
When CC = 0, there is no correlation at all.
Bitcoin has never been correlated perfectly, or perfectly negative with crude oil, bren oil nor Dow Jones.
Bitcoin is doing is own path, despite the dreams of the hodlers, mooners and big brown bears.
This tutorial is dedicated to Tradingview "experts".
Beginner TF Matching SystemA couple of people are trying this system I created, both have no previous knowledge of trading. This method is designed for people who are new to trading. This is system is suitable for strocks, forex, crypto, futures etc.They are also using it on an options demo account. Lets see how they go.
HOW TO TRADE MARKET STRUCTURE HOW TO TRADE MARKET STRUCTURE
1) WE CAN SEE THAT USDCAD HAS BEEN IN AN UPTREND MAKING HIGHER HIGHS & HIGH LOWS. THIS IS DISPLAYED WITH THE A-B-C-D MOVEMENTS
2) AT 'C' WE REACHED A KEY RESISTANCE ZONE AT 1.42500 RESULTING IN THE NEXT PHASE OF THE UPTREND TO CREATE A NEW HIGHER LOW AT D
3) AT 'D' USDCAD BEGINS THE NEXT PHASE OF OVERALL UPTREND AND ATTEMPTS TO MAKE A NEW HIGH. HOWEVER THIS UPWARD MOVE FAILS AS WE FAIL TO BREAK ABOVE 'C' & INSTEAD END WITH THE MOVE TO 'E', SIGNALLING A POTENTIAL END TO THE UPTREND
4) THE NEXT MOVE FROM 'E-F' CREATES A NEW SUPPORT LEVEL AT OUR PREVIOUS LOWER HIGH 'D' (1.41142) ZONE
5) THE NEXT MOVE FROM F-G IS AN ATTEMPT FROM BUYERS AT THE SUPPORT LEVEL CREATED FROM E-F (1.41142) TO TRY AND CONTINUE THE UPTREND HOWEVER 'G' NOW CREATES A LOWER HIGH
6) FROM G-H WE CAN SEE PRICE IS MAKING A THIRD TEST OF THE SUPPORT LEVEL AT (1.41142). A FAILURE OF THE SUPPORT LEVEL HOLDING GIVES US A GOOD ENTRY POINT TO ENTER A SELL POSITION WITH OUR PROFIT TARGET OF 105 POINTS AT 'H' (1.40000)
USOIL if wedge break 12.21 is first targetUSOIL if wedge break 12.21 is first target and if crude turns wildly bearish like Monday don't be surprised if it goes 5 to 6 dollars within a week for another test of 5 dollars.. Hoping if it breaks wedge downfall stops between 12 to 13...Always have 2 %of stop loss since USOil is so volatile...
gold oil4.22.20 On this video I describe some issues that I have with the oil market and some of the technical problems that resulted a couple days ago. I tell you what I plan to do, and I will get back to you on that. I also talked about the potential oil trade that a scalper might've taken yesterday, and I expand on that today, and I make some differentiations between two different "BUY" set ups on the chart and how I handle them differently. If this video provides value please give a thumbs up. Thanks.
How to Chart Futures Contracts and Crude Oil's Historic MoveCrude oil traded at -$40 per barrel and that is a historic move. It will go down in the history books.
In this video, we want to show everyone how to track and analyze futures on TradingView, specifically future contracts in crude oil CL1! and CL2!. On TradingView, it's possible to study any futures market and break that market down by each month. CL1!, for example, shows the current crude oil contract in front. CL2! shows the next contract in front. You can also dive into specific contracts that go as far as 2021 or 2022 or beyond.
This video tutorial is meant to be educational and we hope it helps anyone interested learn more about these markets. It's important to remember that most futures contracts trade based on an expiration date. Then, the contracts roll to the next month after that. As a platform, TradingView gives you the data and tools needed to analyze any of these contracts. The quickest way to getting started is to use the search bar to explore all the possible futures contracts that can be analyzed or visualized on a chart.
We hope this video tutorial helps the community get started. Please press like if you enjoyed it and, even better, please leave a comment to add to this discussion. Let's hear your opinion on futures market and the recent crash in crude oil.
oil gold4.21.20 I set up my charts for futures trading on oil and gold. In some ways it takes a little bit more prep for the futures trading then you might need if you were trading forex. I believe the oil market is setting up for a long trade. I briefly reviewed the gold market and pointed out what might have been a long trade for a scalper or a trader looking for a longer trade. Please give a thumbs up if this provides any value for you.
Biggest mistakes theory in practice.The biggest mistakes and biggest reasons why traders lose keep being repeated. It is more clear when we can see it actually happen.
Here we can see the number of holders as well as the increasing money pour in into an Oil ETF while the price is going down.
When it will go up those that didn't hang themselves will break even so remind me to check robintrack.
United States Oil Fund number of Holders on Robinhood went parabolic as Oil prices plunged
robintrack.net
Nosediving right now.
Trading was halted for this fund
www.streetinsider.com
> Stop fighting fundamentals & trends because "it's cheap" or "some indicator"
> Stop averaging in losers
> Cut your losses
You can be sure that when they get lucky and get out in the green (and rapidely take minuscule profits) you'll hear from them, and when they get wiped out on huge losers you'll never hear that story.
WTICOUSD - Oil weekly. Is oil ready to pivot?4/17/2020 OIL weekly chart
All the talking heads are saying how the C-19 virus destroyed the Oil and etc.
The truth is the oil peaked in 2008 and it is looking to be completing a 5 wave structures down.
Currently the oil is in 19 handle
I can see Oil may go down to the 17 handle
I can also say see that Oil met the minimum requirement to begin moving up from this area.
EVERYONE was bullish when oil was $130-$140
EVERYONE is bearish now when WTI is $19.xx and USO is at $4
History made with negative oil pricesWhile very technical, also historic, dramatic and influential.
When there is no market for a certain asset, we don't see a price decline, what we see is market failure.
US oil prices plunged well below $0 which is the lowest level since NYMEX opened oil futures trading in 1983.
WTI - OIL ANALYSES
Oil prices are as shown below :
Peaked at 1 July 2008 -147 $ plummeted to 35 $
Peaked at 1 July 2014 -107 $ plummeted to 28 $
Peaked at 1 July 2018 - 77 $ plummeted to 21 $ (You can see this in my profile exactly predicted in September 2019 as of 21 $)
Will Peak at 1 July 2020 -60 $ will plummeted to 9.71 $
So until July 1 2020 May be long after badly short.
oil gold4.17.20 US citizens should be trading the oil futures, not the Forex oil even though they correspond very closely, you should take a look at this video. I showed some follow-up on gold; and I give a brief review for new followers on how I view the market. Please give a thumbs up if you like the video.
