chartwatchers
Long

OIL - Moneymakers and Outfreakers

TVC:USOIL   CFDs on WTI Crude Oil
9297 133 88
There are 4 types of traders at this market:
the OPEC members, the banks, the moneymakers and the outfreakers.
The first 2 is already reserved so you can choose from the last two.
The OPEC members are always on the right side of the boat. The banks are 80% in the good direction. The moneymakers have 65% . And the freakouters are losing money in 90% of their trades.
I suggest to stay in the moneymaker camp. We are not always right but the long term we are making money. And sometimes we can figure out what the first two group is doing and then we make 10/10 calls in a row.

We had an ICL on the 4th of May. I say now no way to break below 44$ in the following 3 months.
On the weekend I will try to summarize what I think on the daily basis but right now I'm watching the clear price manipulation on the hourly chart. :)
We are printing a megaphone bottoming pattern. It's a clear manipulated pattern. When the price is breaking down suddenly a buyer comes out from nowhere and pushes up the price again. Then the natural forces are selling again and our hero is back again and pushing price to a new high. It continues while everyone is realizing - or losing all the money - that this is not going down.
If it's not going down then we are going up.

This might be exactly the case here. If not down then up...
I think in this moments we are breaking up from the megaphone : everyone slowly realizing yesterday's drop was a one day puke.
I wouldn't be surprised with a new high by the middle of next week.
It's a Memorial day in the US on Monday. How about a big gap open on Tuesday in ERX and XLE             what never gets filled?


Comment:
Comment: Closing above the 10 EMA, 20 EMA, 50 EMA and 200 SMA.
Looks good again.
Comment: Bouncing from the trendline
Comment: Ok. Let's see some intervention in oil.
Comment: I'm reopening my e-mail list till 22.06.2017. 0:01 Berlin time.
All who wants to join can do it in the next 3 hrs.
All who are already on the list got an e-mail a few minutes ago.
If you received an e-mail no need to send a message : "pls send me the oil update"
If you are not on the list and would like to get the update at 0:15 send me an email to chartwatchers@gmail.com in the next 3 hrs. After 0:01 I close the e-mail list again.
Comment: We are moving to the PI section in oil just as I did at the beginning of this year in gold.
I'm not leaving you alone on the battlefield.
Did you give up on trying to predict WTI or are you taking a break from it for awhile?
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@thehtizzle, I'm still long ERX.
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As you see Oil flow bluelight speculation line well,but am not sure about how high It will go from here.It can be lower or higher.
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Josef2016 Josef2016
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What is PI section?
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Thanks. You are great .
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That's why we ride along with you Captain Arpi...
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I'm out and waiting for a good reversal on the daily. It's been 18 days since the last reversal. With my bad luck, it should start flying up ASAP. It always happens. They were waiting for me to sell out. Good luck.
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@MrRick, I suppose it's called panic selling...wait for a flag and go long and use a stop at a good RR

Good luck
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You are a brave man Arpi. That is all. :)
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