Very bearish and very oversold!

FX:USOIL   CFDs on Crude Oil (WTI)
632 5 12
- firm bearish Ichimoku .
- Bearish momentum increased this week in Heikin-Ashi
- Price is reaching POSSIBLE bottom of trend channel and a wedge . Wedge only valid if lower line holds. Fetting Oversold!
- Maybe in next few weeks we can see some slowdown in selling

Anyway, if it goes at this nominal pace, by Febr/2016 WTI Oil             will be free for everybody! Hurray! Please also consider, that since last Muppet eeeee I mean OPEC Meeting all news are bearish! There are only Bears in Oil             market! You remember what has just happened to EURUSD             right? Get ready for more volatility .

- Not much to add, it is a falling knife.
- For sure the correction will be at least as agressive as this selloff, due to lack of liquidity and probably increased short positions.
- Price drop too sharp, far below Kumo and Kijun, EWO             also shows it is getting a bit stretched!

I was trying to catch few times a bottom intraday. Even if just in small, but I lost money on 4 out of 5 trades! Conclusion: don't try to guess the market, not even intraday, not even in small! Until you see a clear counter trend signal, the "looks like" opportunities can cause at least a serious menthal harm, if not a financial drawdown. :-)

When u fck yourself mentally with early bottom fishing and multiple stops, it will be a lot harder to buy in again, when the proper signal is there: human nature, your mind will second guess due to hidden fear and negative feedback loops.

Totally agree with your note :) Is it just me or do other people hate trading in every December?
I also got caught with the bad trades in recent intradays cause markets are choppy. Better sit on your hands
You're right about bottom fishing, It is an ego game. Actually part ego, part fear (of missing the maximum move in reverse).
I"m finding trading HOD.TO long has worked very well this week. Despite 30% failed trades I'm up 10%+ this week.
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