KatlehoMaleka
Short

Bearish on Oil.

TVC:USOIL   CFDs on WTI Crude Oil
I have a bearish outlook on Oil . According to my analysis, we have reached the end of the 5 Elliot waves, so we are most likely to see a correction now. That theory goes with the possible Head and Shoulders , and looks like we are on the right shoulder at the moment, right at the 61.8 fib. We also have great bearish divergence on the RSI . I'm bearish on Oil , at least until $54 a barrel.
If you follow world news you would realize how ridiculous the price of oil going to $55 a barrel would be.
Reply
KatlehoMaleka GeoDudeManBro
@GeoDudeManBro, Lucky for me, I don't trade based on news. And markets are known to be ridiculous.
+1 Reply
GeoDudeManBro KatlehoMaleka
@KatlehoMaleka, this is why you guys who use only TA are constantly wrong. And when you elliot wave gave are wrong, you just redraw the graph lol
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jeffreyjim GeoDudeManBro
@GeoDudeManBro,
"Grow Up" -- Dirt Bag
"Good Luck" -- If you only trade based on world news -- " LOL "
+1 Reply
GeoDudeManBro jeffreyjim
@jeffreyjim, yikes this didn't age well. Since you don't read news you probably don't know why it went up.

I won't spoil it for you since your charts tell you ;)
Reply
jeffreyjim GeoDudeManBro
@GeoDudeManBro,
Just for the record I do follow the news. I "Do Not" trade the news that "You" talk about.
Examples -- News on TV -- Radio -- Newspaper -- Etc.
I trade "Real News" that most but "Not All" people "Do Not" even think about. -- "Know About" -- (My opinion 51% min.)
"Real News" is one of many tools to use with trading.
There are many different types of "Real News" to help with trading decisions.
My opinion the two best teachers in the "World" are Larry Williams and Robert R. Prechter, Jr.
If you ever decide to learn about "Technical Analysis" ? Two good books to start with listed below.
"Elliott Wave Principle" -- By Frost and Prechter
"The Right Stock At The Right Time" -- By Larry Williams
Many other good teachers -- books -- etc. -- do exist.

"Good Luck"
"One Eye Jim"
Reply
GeoDudeManBro jeffreyjim
@jeffreyjim, TA with no FA is just bullshit, that's okay I don't need your links. I could probably just guess and get the same if not better results

Question, if you have product that everyone wants but it is in extreme short supply would you charge less for it?

Like diamonds should be super cheap because of the high demand and little supply there is right?

Read about the concept of "supply and demand" and a bet you thsee price movements would make a lot more sense to you
Reply
jeffreyjim GeoDudeManBro
@GeoDudeManBro,
"Supply and Demand" is "One" of many good tools to think about and use. (This is real news -- If it comes from a good source ?)
Remember when it is talked about on -- TV -- etc. -- it is "Old News" -- "History" -- most of the time.
Supply or demand could end or even could get worse.
The best of the best "Are Not" right all of the time.
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