jangseohee

Consolidation about to end!

NYMEX:CL1!   Light Crude Oil Futures
3526 19 34
Crude oil             futures has been consolidating in symmetrical triangle pattern since May 2011.
Either it will consolidated further after Presidential Election or... look up for a downside breakout in near term.
Comment:
Patience Will Be Rewarded
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snapshot
Comment: [quote="jangseohee"]https://www.tradingview.com/x/BfaCuQkH/ chart of the year 2015[/quote]
Comment: ]https://www.tradingview.com/x/BfaCuQkH/
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snapshot
Nice!!! Call!! Do you trade futures also?? This would have been a great reward to be desired!
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jangseohee lmsmith
Hi Smith,
I joined TV about 5 months ago, but my own Thinkorswim trading platform was started in Dec 2012.
I still remember vividly i was still reading many TA books and one of them focus on pattern.
And this post just came in exact timing. When i started my trading, there were a lot of stop out for me, but i persist and keep learning.
This is one of the multi-multi bagger (according to Peter Lynch) that let me recoup all my losses from 2011 top (when i bought w/o knowning technical analysis) and had been handsomely rewarded until i exited all profits at 56 dollar :-)

Since it was my new post, and without any reputation no one bother to look at it haha
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WELL CALLED! *************
+2 Reply
alright, so much of guessing where is the bottom
if this channel is valid, then it has to reach 34-35 for good
snapshot
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jangseohee jangseohee
compare to the 2008-9 bottom, it do not see a big range or tower bottom and big red and green bar
price has made a "bottom" in Jan 15, but subsequent Feb and March bar couldnt even touch 54 and the bar is still drifting lower, this consolidation will drag on until it breaks either way.
It looks more like a bearish F flag to me
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so it broke out of the red channel, still trap in blue channel
snapshot
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BoonOng jangseohee
Seem like a double bottom in the blue channel. =)
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jangseohee BoonOng
gotta see which way it breaks
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The professional
+2 Reply
AMBRISH jangseohee
It looks like brake out will decide next big move in crude. Thank you for posting update.
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Thanks, nice chart. It will drop into 20 and keeping ranged from 10-40 for many years.
+1 Reply
PKA PRO Victor.Y.F
Lol
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Lol now
+1 Reply
PKA PRO Victor.Y.F
You won't ever see 20. 10 is moronic.
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PKA PRO Victor.Y.F
Lol 10 right
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snapshot

Oil pipeline index
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AMBRISH jangseohee
Chart of the year. Master Piece.
+1 Reply
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