tntsunrise

some thoughts on oil and one important trading logic to share:

TVC:USOIL   WTI CRUDE OIL
6 months ago
some thoughts on oil            
and one important trading logic to share:

Guys, Today I receive a msg from one of the follower
"sir, any forecast on oil             now?"

then i draw this chart to him:
1. Oil             is in a tri-angle right now, lower highs and equal lows.
2. 48.00 is strong resistance structure
3. 46.50 is strong support stucture.

problem: price is right in the middle!
it can go up or can go down and your risk is not small at all.

Conclusion:
Do not Trade Oil             at this moment, which means:
Have some rest!
here is the sharing part:
Traders, how many times you feel that you have to do
something?
how many times you think you got itchy finger?
Please take note:
If there is no much trading opportunity,
DO NOT FORCE TO TRADE.

wait paitiently for the price to react at thoese
important structure and you will have a clearer
trading plan by then.

Good night! Wish you a happy trading life!
Plan your trade, trade your plan!
Always here to share,
yours sincerely:
Jack ( tntsunrise)
5 months ago
Comment:
snapshot
5 months ago
Comment:
snapshot


Guys, did u catch this short trade?
5 months ago
Comment: Oil continue to drop
For thoese who has viewd my charts
and get the short trade ,you can consider to take profit now
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SharkbaitAl
6 months ago
Thank you for this post, and all of your others. I learn something from them each time. This reminds me once again to be patient, don't force any trades, and keep an open mind. Good luck Jack, I will be looking forward to more of your work!
+2 Reply
tntsunrise TOP SharkbaitAl
6 months ago
welcome!
+1 Reply
Pip-Trader
6 months ago
Brilliant, better than the analysis is the "sharing part"
Reply
archer08
6 months ago
Thanks a lot, Master!
Reply
shero
6 months ago
Well Said
Reply
mnwind
6 months ago
Jack, how about if you are already in the market? I bought a small position at low end in the morning. Should I exit with a small profit and wait for next signal? or hold it and let stop loss order takes care of the rest?

Price can become choppy during consolidation. There were many times that my positions were shaken out with a false break out and then the price moved in my direction.

As always, your opinion is greatly appreciated especially on trading logic and philosophy.
Reply
tntsunrise TOP mnwind
6 months ago
wat is your orignal plan? if u bought , u should have ur target and ur stop loss. follow your plan.
u can take partial profit or u can move sl to break even if you have some profit.
+1 Reply
mnwind tntsunrise
6 months ago
Thank you Jack. My original plan was to buy at strong demand ~$46.5 hold 1/2 position to $48-49, and the other 1/2 to ~$52. With the triangle consolidation pattern as above, I just closed 1/2 of my position for a very small profit, and leave the other 1/2 as a free trade targeting $48. Price may get stuck in the range for a while. You brought a very good point, I often change plans once I'm in the trade. That may be why I seldom have big profit. Big lessons learned!
Reply
gabaym mnwind
6 months ago
hi there is 2 pattern- descending wedge witch is bearish one and ascending wedge witch is bullish pattern currently on 240 chart we have descending wedge that means bearish wait for the break of the wedge
then enter short.
Reply
watsonzou26
6 months ago
Many thanks for your thoughts, that's great,Jack!
Reply
jujiang
6 months ago
totally
Reply
bunah2
6 months ago
Thanks
Reply
bschafer
6 months ago
I struggle with this itchy finger...as I am sure many others do. Thanks!
Reply
Trendhopper
6 months ago
wise words
Reply
NotYetPro PRO
6 months ago
Hey Jack , I see 2 bats on the oil chart , can you confirm?
Reply
tntsunrise TOP NotYetPro
6 months ago
i saw a bearish gartley
Reply
lgybecks tntsunrise
6 months ago
It seems that the downtrend has been broken.
Reply
tntsunrise TOP lgybecks
6 months ago
still side way
Reply
mchilado
6 months ago
Thanks Jack...I always learn something from you!
Reply
cantestogo PRO
6 months ago
Great analysis Mr.Jack. You are doing an extraordinary work here on Tradingview. Good luck with your trades!
Reply
bobrenard96
6 months ago
thank's for your post and your humanity !
Reply
SupraBoy
6 months ago
"problem: price is right in the middle!" That's a good one. Price is always right in the middle.When is it never in the middle?
Reply
tntsunrise TOP SupraBoy
5 months ago
when it are near to the structure. can u see the yellow box i draw?
Reply
eduson33
6 months ago
thank you..a leader worth emulating
Reply
mjk123
6 months ago
thank you, great post, applies to many situations!!!
Reply
SilverFox
6 months ago
Hi May I join here?
Reply
ironmask
6 months ago
Thanks for words of wisdom. I'm usually a very patient trader but even i forget to just take it easy and not force myself to trade even when there is no good trading opportunity. Looking forward to your future posts!
Reply
AYosof
6 months ago
Based on the move today and your analysis we should be long now correct?
Reply
rajesh2467
5 months ago
hi guys. can i join in?
Reply
tntsunrise TOP rajesh2467
5 months ago
join what? are u buying or seeling?
Reply
rajesh2467
5 months ago
hi guys, may i join in?
Reply
rajesh2467 rajesh2467
5 months ago
i mean join in discussions. thanks.
Reply
Batman-oz
5 months ago
Yes, wonderful insite Thank you Jack. Sometimes just go to watch the slow train go past you, you do not have to catch it always. We all used to work in an office or the like, now we have our own hours and trade forex. As Tom Hanks said in Forest Gump, "Life is like a box of chocolates, you never know what you gonna get". And forex is a bit the same. https://youtu.be/CJh59vZ8ccc
Jack i hope you dont mind me speaking out of turn.
Reply
grappa01
5 months ago
do You think that USOIL will go up ?
Reply
tntsunrise TOP grappa01
5 months ago
i dun need to think whether it is going up. if it is going up, i should have bought, if it is going down, i should have shorted.
Reply
JaybeHoh
5 months ago
Hi Jack, is it a good time for me to set and pending sell at 46.66 (sell at pull back)?
Reply
JaybeHoh
5 months ago
Oil M30 Chart is it having a nice double top???
Reply
MichealBass
5 months ago
USOIL LONG at 45.72
+2 Reply
sunzhaopeng888
5 months ago
thanks
Reply
s.mahdi
5 months ago
if possible can we get your you tube channel name?
Reply
tntsunrise TOP s.mahdi
5 months ago
projack
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AdriaanGeorge
5 months ago
Yes Sir, got in at 46.39
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MiDiGre PRO
5 months ago
No, I don't!!! The pullback was so tiny that I'm still waiting for it!
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tntsunrise TOP MiDiGre
5 months ago
the pull back is very obvious...4h chart, 3 candles
Reply
MiDiGre PRO tntsunrise
5 months ago
Yep, I was waiting for 46.40/46.60 but nothing
Reply
watsonzou26
5 months ago
Great analysis, Jack!
Reply
insomnia.kzhang
5 months ago
Yes, I did, trying to determine what price will be the target, there was some support at 44.55, and FIB 0.5 is at 44.07, so 44.07-44.55 ?
Reply
tntsunrise TOP insomnia.kzhang
5 months ago
44.00
Reply
insomnia.kzhang tntsunrise
5 months ago
Thanks, it looks like a buying signal today tho, tying my hands for now.
Reply
caglarercan05 tntsunrise
5 months ago
Hi Jack what kind of sign we shold see to take a long position here?
Reply
elie70927834
5 months ago
Hi Jack, Do you think that I can short now, or it is too late?
Reply
Sajeelahmad88
5 months ago
now buy or sell
Reply
TadeMark PRO
5 months ago
Short from 47.47. thank so much Master Jack
Reply
robgif1
5 months ago
Awesome post. Thanks for it
Reply
val_trader
5 months ago
I made a "late enter" on short.
Jack don't you think that if Nonfarm Payrolls (Aug) will be good, $ will go up and OIL will be brought down further ?
Otherwise I'm ready to close my short if Nonfarm Payrolls is bad
What do you think ?
Thanks as always
Reply
tntsunrise TOP val_trader
5 months ago
NFP normally dun impact oil
Reply
rocky05.ra
5 months ago
Midterm target from daily chart, there is rising wedge pattern, target at $36
Reply
CryptoTraderOne
5 months ago
snapshot


Mr.Jack, price hit the structure and fibo retracemen 0,618. Do you agree to take a long from here?
Reply
tntsunrise TOP CryptoTraderOne
5 months ago
nope
Reply
carlosdavilamal
5 months ago
we should hold our sell positions?
Reply
tntsunrise TOP carlosdavilamal
5 months ago
u can take some profit.
Reply
docholliday PRO
5 months ago
Looking for a sell setup on this one as it looks attractive to make a flat correction of the up impulse - still in the correction.
snapshot

Reply
MindTrader
5 months ago
WTI
Reply
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