Kumowizard

When everything rallies, but the Oil

FX:USOIL   Crude Oil (WTI)
550 13 10
There is such a global risk on... maybe we should focus on possible changes in the neutral WTI setup.

- Ichimoku is total neutral, with slight bearish bias as Price is below Kijun Sen.
- however Heikin Ashi suggests there is some chance for a bullish action, at least short term. haDelta has minor positive divergence and the candle has an inside body today.
- Watch Kumo and mainly Kijun Sen at 47,40, and of course the Heikin Ashi signals!

The whole world is back to risk on. Equities rally, bonds (espec in Europe) are lifted, EUR is selling off.
This should be positive for WTI.

Also I don't see any "war premium" priced into this Oil             market... meanwhile the situation in Syria is really serious.
Should give some support for Oil             .

However the new bullish Wave in USD is a headwind for commodities in general. So from this perspective it is not going to be such a good proxy compared to equity bull market.


Other note:
- I got stopped out massively in EURUSD             . Lost quite some money there.
- EURGBP             I closed appr. zero earlier, stopped ard UK Ret Sales data
- I only had top hunting shorts in SPX             and NAS100             , where I was lucky enought to get out in time with small profit, as those indexes reacted quite late to ECB idiotism.
2use
a year ago
Once it is out of the cloud
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Kumowizard PRO 2use
a year ago
agree
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Same took a hit today.
I disagree with commodities, commercials are net long in many, and gold is leading the pack.
Oil should follow the lead too, right? Or at least it has good technical and fundamental odds.
I posted a long above yesterday's high, yesterday and took some heavy criticism.
Let's see how it goes.

I'm long GBPJPY, USDJPY, NZDJPY, and will short USDCAD after today's close.

As for oil and Nikkei, long, maybe short SPY if it hits higher resistance levels. I'd flip short in USDJPY at around 121.7.

What do you think?
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IvanLabrie PRO IvanLabrie
a year ago
snapshot
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Kumowizard PRO IvanLabrie
a year ago
NZD I never trade. Not my time zone, not my desk :-)
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Kumowizard PRO Kumowizard
a year ago
Even AUD I trade less.
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Kumowizard PRO Kumowizard
a year ago
My baby is the HUF :-D hardcore
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IvanLabrie PRO Kumowizard
a year ago
I see.
I posted this one, let me know what you think:
DIA: Aiming higher it would appear
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Kumowizard PRO IvanLabrie
a year ago
looks bullish
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Kumowizard PRO IvanLabrie
a year ago
Today I have no thoughts :-) I am breathless, just gazing at mkts how these central banks blow the biggest bubble ever in history.
WTI is doing nothing right now, as 2use mentionned above we need more confirmation to enter long.

USDCAD I have no idea. Neutral on daily, trades in Kumo, so far doing a Kijun retest at 1,31+. 4H is counter bullish. Can be a sell sometimes in close future.
EURCAD seems to be a sell again on daily. But it is still tricky. Gets a bit more volatile.

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IvanLabrie PRO Kumowizard
a year ago
Yes, I'm waiting to sell. EURCAD; agreed. Not comfortable enough for me right now.
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2use Kumowizard
a year ago
Indeed im not quite convinced on a long here, and no resistance was quite broken. the chart IvanLabrie posted above also is not billish yet as we need to clear that volume range. I am surprised on such days to see the markets do a turn from red to green, make a whopping +2% to see most stocks still stand on their prices. When i looked yesterday though it seemed more a bearish sentiment as some cool down was needed even for the bull run...but i wonder if everyone is overly optimistic already. if this week clears in green further from here, i would say we are already in the bull turn;.
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IvanLabrie PRO 2use
a year ago
The move off the lows in equities has been surprisingly strong.
I will hold my *jpy longs and add, and trail as they move in my favor.
No take profits set yet.
Ichimoku can be a great tool, really. My favorite indicator based system. (other than market profile and associated tools)
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