tntsunrise
Short

USOIL Going to touch the 1.618 inverse ext

TVC:USOIL   WTI CRUDE OIL
8795 44 146
9 days ago
The Previous Oil             Short Idea
Stopped at 50.20
And now the price is 51.66,
if there is no Stop loss to protect our account
we may suffer more.

Right now I am waiting oil             to touch the 51.83-52.00
zone and looking for a short.
Use multiple time frame for a confirmation entry.
i.e. go to 5 min /15 min chart to check the price action.
if there is a bearish pin bar or bearish engulfing candle.
that will be ideal.
5 days ago
Comment:
snapshot
5 days ago
Comment:
snapshot

wait for the pull back to short
2 days ago
Comment:
snapshot
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arshadd
9 days ago
very nice jack
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compalisator
9 days ago
thanks I will watch it
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hush320
9 days ago
Nice Jack
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mlbo
9 days ago
very aggressive idea but with great explaination and comment in the chart. that will help a lot of people.
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ahmedgigo
9 days ago
very nice 52.20 is multiple fibo levels
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lueley PRO
9 days ago
Although in smaller timeframes totally overbought, daily and bigger timeframes still got quite a lot of space. That crude will retrace eventually is fairly obvious, but bulls can hurt bears quite a lot. In the bigger picture even prices around 58 would not mean we are back in a bull market, I'd prever a long setup when the horizontal resist gets crumbled
+2 Reply
tntsunrise TOP lueley
9 days ago
@lueley, great view
+1 Reply
morphinestyle PRO tntsunrise
9 days ago
@tntsunrise, Yes, but potential target? The structure changed now from last ABCD to 39/40$ or potentially 36$ to 61.8 Fibo?
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tntsunrise TOP morphinestyle
4 days ago
@morphinestyle, 44 then 36?
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morphinestyle PRO tntsunrise
4 days ago
@tntsunrise, I mean this: i see a missing C wave and a potential double top wich, projected, carry to 61.8 of fibo, do you agree? Or do you think it's a wrong view?
snapshot
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morphinestyle PRO morphinestyle
4 days ago
@tntsunrise Obvious that the B-end C-begin could also be perfectly the bottom in past August
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Vladimir2016 lueley
9 days ago
@lueley, correctional reaction to the level of $ 54 (annual maximum) should be
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Vladimir2016 Vladimir2016
9 days ago
@Vladimir2016, for WTI $ 52 (annual maximum)
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andersonarjoon
9 days ago
It is possible that it could breakout of resistance and rally furthur!
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tntsunrise TOP andersonarjoon
4 days ago
@andersonarjoon, yes it is possilbe. so watch the price action first. mark the 51.83 level, see how the market re-act at this level.
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andersonarjoon
9 days ago
It is possible that it will breakout from resistance and rally furthur though. But excellent analysis regardless...I will pass on this trade
+2 Reply
pmcllc PRO
9 days ago
Thank Jack!
Reply
yax22
9 days ago
Thanks for this great ideal :)
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gestoert
8 days ago
In the German media it is said that oil is to reach the 60 mark by Christmas.
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tntsunrise TOP gestoert
4 days ago
@gestoert, YUP. in anywhere you can hear ppl say, oil is going to reach 60 or 80 or 100. my question is: how do u trade for this kind of sayings.
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gestoert tntsunrise
4 days ago
@tntsunrise, Hello Sir! From this level, US oil will rise to mark 60, I think.
The RSI 14 and the CCI 14 in the 30min chart and in the 60min chart are perfect for an upward movement. The stick last week is also highly bullish.
An upward trend is projected in the German public media.
The chart of US oil also says "I want to go up".
One can already consider a candle formation, but should not lose sight of the rest.
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gestoert tntsunrise
3 days ago
@tntsunrise, Your prognosis was right and mine was wrong. :O)
I congratulate you and continue to trust your intuition.
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wingskieliu
7 days ago
please!!!!!!! say it is short time, i watch your idea and short the oil for a middle term, and hold it for the weekend. after come back from work, i see the weekly kandle bar is full of power. it is going up to $60!!!
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tntsunrise TOP wingskieliu
4 days ago
@wingskieliu, i said: check the price action at that level , see a pin bar or an engulfing candle then u decide whether u want to enter. did u check about the price action when oil hit 51.83? and I never say this trade is a short term trade. look at the time frame i use, it is obviously a swing trade which u need to hold for weeks.
Reply
wingskieliu tntsunrise
4 days ago
@tntsunrise,
Sir, you are right! I am really sorry about this. I see how professional you are now. I wish to join your classes. Sorry for my rude comments before, and I will trust you and learn from you. Thank you so much
Reply
wingskieliu
7 days ago
dont post something against the trend and someone would follow your idea. I know your idea is right, but please, please say more, if the price closed below 50, think about short, if price closed at strong/full power, think about buy it.
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tntsunrise TOP wingskieliu
4 days ago
@wingskieliu, the truth is: the best opportunity is always at the turning point. it's ok to be against the trend when I know the current trend is about to finish.
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Daniill
7 days ago
Вариации  на  тему  Элипсов
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tntsunrise TOP Daniill
4 days ago
@Daniill, u are an artist! bravo
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hungvolai Daniill
4 days ago
@Daniill, I thought Wave (4) not supposed to be below (1).
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Daniill
7 days ago
WTI - D
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kombik00
5 days ago
nice Plan!
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ipartnerkz
5 days ago
Dear Jack,
You are cool technician
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watsonzou26
5 days ago
If today's close around 51.90, it could be good enter for short even weekly chart is so bullish.
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watsonzou26 watsonzou26
5 days ago
@watsonzou26, LOL Jack's chart is working, cool!
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Daniel.T PRO
5 days ago
I know you are a technical trader but you can't ignore basic fundamentals.
OPEC countries made a deal to cut oil production for the upcoming months. Basic knowledge says that if they cut production, price of oil wil go higher.
I personally see oil rally up to 60.00
But thats only my opinion.
Reply
cpt000 Daniel.T
5 days ago
@Daniel.T, Basic fundamentals? EIA reports show builds, plus OPEC members cheat all the time. Also rigs in US have only been going UP, so more supply on market, offsetting OPEC "cuts". USD also on uptrend so making oil more expensive. Unless these correct, the fundamentals for oil are bearish.
+2 Reply
tntsunrise TOP Daniel.T
5 days ago
@Daniel.T, i am not ignore basic fundamental. coz the real fundamental which drive the market is something that public dun know. what is already know is the news. what is unknown is the expectaion. market will act base on the happend news. yes u can have ur opinion that oil may rally to 60. my question is:
how do u trade for this opinion? do u want to buy now? then where is ur Stop? where is ur entry?

So don't just say: i see oil rally up to 60. did u trade it? or u just see it? we , traders, are not guessing the market. we simply trade the market.

I dun need to know what will happen to drive the oil price, but i do know how do i trade with my idea.
+10 Reply
deepsky001 tntsunrise
4 days ago
@tntsunrise, Perfect response !
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nbn007 PRO
5 days ago
this is not over yet!!
+1 Reply
yax22
5 days ago
thanks Jack:)
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Jack is a good man with a big heart!
+2 Reply
jujiang
2 days ago
yes, i hold long until that level to short
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climberEd
2 days ago
Hi Jack,

Really enjoy your trading suggestions and the explanations you provide - especially useful for someone still learning (coming from a more fundamental trading background).

Was wondering what your target area is for the current potential short? (the still waiting for 51.86 last post)
Best wishes.
Ed
Reply
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