seine
Long

Crude oil - is it really bottom?

NYMEX:CL1!   Light Crude Oil Futures
708 26 4
There is strength though.
The oil             has move a lot already, but i think it is still a good entry.
A close above 54.47 can take it to 60.
Awesome, great chart seine.
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seine iv_trader
Thanks :)
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Great chart. I agree with you 100%
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CoreyInvesFB CoreyInvesFB
Everything will depend on how the market reacts to 54.00
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MohamedAwad CoreyInvesFB
dear
do you mean it will be more than 55 in this week
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seine CoreyInvesFB
Yeah. it has a strong resistance there.
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dear do you mean this week or can you tell us what is the maximum this week please
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seine MohamedAwad
I don't think it is possible to predict that. I don't know when it will reach any price level. Sorry :(
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CoreyInvesFB MohamedAwad
Zthere is never 100% certainty of what price level will be reached not even 100% certain that market will go up or down. If there was everyone would be rich.
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Rocketman PRO CoreyInvesFB
Nothing in this life has a 100% certainty, but just like in life, some people can be highly confident about the probability of things; as seine and other traders are in specific cases with their parameters.
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seine Rocketman
I agree. Even when my parameters are met, the first assumption i make is "i am wrong" and i calculate my risk.
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Good chart, fundamentals play a part in the pricing and push the price around. Flushing inventory levels could push this lower if are higher than forecast.
+1 Reply
seine Larry003
definitely, fundamentals always play their part in any market :)
+1 Reply
DEAR
WHAT HAPPEND DOWN TO 50.77
IS IT GOING DOWN OR UP???
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mohamedrussel mohamedrussel
I ALLREADY BUYED AND MAKE THE TARGET TODAY IS MINUS ---- ----- ---- IAM VERY SAD
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seine mohamedrussel
if you are wrong, get out.
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mohamedrussel mohamedrussel
MARGIN CAL
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seine mohamedrussel
sorry man. don't use a lot of leverage. only risk the amount you are willing to lose.
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CoreyInvesFB mohamedrussel
At what point did you buy? It was easy to sell after price got rejected at 54. Looking at other charts you could see that it had happened before.do your homework before make a buy or sell. If not this is not for you.
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seine CoreyInvesFB
Yes, I totally agree with Corey. Always plan before you enter. at least determine the level you will get out if you are wrong and never never take heavy leverage. That is just a plan to blow out your account. Think about putting small bets in different stocks, commodities, currencies, etc instead of getting all in in one position. Even if most of those small bets are wrong, the winners should give you a net profit. If that is not happening, you would need a strategy that can give you that. To remove disposition effect (unwillingness to take in loss when you are wrong), simply put a stop loss.
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Sorry, it didn't work out!
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seine VivekSingh
we are not betting our house on one thing, right? haha.
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yeah, but we are also not betting on just where market is going.... that's why i went with DWTI yesterday around market close ;)
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seine VivekSingh
good for you. you are sitting in profit.
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ANY NEW UPDATE ABOUT OIL????
CLOSE FRIDAY 51.73
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seine mohamedrussel
Let's wait for another setup. :)
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