Hi Deus, I follow every post of yours on WTI. Im a beginner. You have been Short all the while and
just now you changed to Long. I do understand the Triangle on the chart. But due to too many people
shorting? Arent we suppose to follow the people who creates the trend?
Fomenka
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@elonor88, thanks for following me. Well, I am a contrarian by nature and by trading. I like to pick peaks and bottoms (though it rarely pays off). I remain medium-term bear in oil. I just do not see the turnaround. I think the price will rip bear positions first before reversing. The problem is I do not know when. I will know when it happens. I am not Long, I am not buying. I only considering closing my shorts until reversal is obvious to me.At least for today. I can reconsider tomorrow.
elonor88
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@DEUS, Thank you for your insights and explainations. Appreciate your efforts in sharing your views. Thank you again
Fomenka
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@elonor88, Plus i see metals rallying near term. Nowadays, they do it together with oil and stocks.
elonor88
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@DEUS, yaa, i do notice that as well. Its kind of weired for me. They are not much related but they move in similar fashion. Is it because the banks and the fund management company hedged their funds into these markets? it feels like there is a big mastermind controling it all. LOL
just now you changed to Long. I do understand the Triangle on the chart. But due to too many people
shorting? Arent we suppose to follow the people who creates the trend?