This corner trade has now revealed itself. With a clear wash and rinse into structured support. Waiting for price to come back into a buy order and a structured stop below. This proposed trade will offer 14 X return to risk levels.
Buy order set at 2.64 with a current stop of 2.45
Current Targets Selling 50% of position at each are:
Target 1 at 4.52
Energy is now historically low in regards to it's percentage allocation in the S&P 500 components.
Likely going to build a long term position if we reach the target, likely early 2020
XOP 3x levered GUSH is trading in the $2's haha... going to need to split soon
An idea I'm considering but its a bit complicated to trade this one. 3X ETF containing a bunch of nat gas an oil stocks. Very high correlation with XOP. Watch out for decay if you plan to hold. HONOR YOUR STOP and don't be greedy yet.
Here is a screenshot of the 3 tickers shown in the idea cart.
Oil (/CL), Nat Gas...
I posted recently the neck was broken on oil. The bears made out big! Now Bulls it looks like it is your turn. Volatility. I see $57-$58 for the bull run let's see! See my posts below to see the current Geometrical Frequency of Oil.
We all know it is coming. To chart the pattern of the crisis look to the incoming 5g technology deadlines. 2020 is the deadline. Go back to 3/4 g deadlines and upgrades. 3g=1999-2000. 4g=208-2009. Look it all up and do the math. Everything is at the top in terms of the market. Commodities are coming off bottoms. How hard is this to see? Not hard unless you are blind.
I love love love setups like this. What you see here is a classic symmetrical breakout from a classic cup and handle. Each with time frames of significance. Of course the more powerful move will be the Symmetrical triangle. The cup and handle however should give us our initial bottom trend line for this bull run set up. I drew an imaginary line to give and...
When charting oil it becomes very clear that the symmetrical triangle has formed. I have been saying this all year long. I expect big moves in both directions in the markets as volatility continues its treacherous path. Let us see how this huge pattern plays out. Patterns that are produced over longer periods of time tend to bare more weight and strength in...
Cup and handle pattern showing on WTI CRUDE.
Fundamental news of 12.8M real vs 2.8M estimate drawdown of US inventory jump starts the bull case for oil. Although there is resistance line starting from beginning of June, that trend has a short history and upcoming global events may help the break through this resistance. The G-20 summit is currently happening....
TraderNoxtreme here. $GUSH has been falling HARD the last two weeks roughly and people have been longing this hard on the way down. The media is now really starting to HYPE the trade war which is leading to increased uncertainty in oil/nat gas. $GUSH is a 3X ETF that has a bunch of oil and NG companies in it.
It just bounced off a 3 YEAR low this week at around...
MA50 crossing over MA100 on 1D. This is a bullish signal on the long term. The last two times that pattern was spotted (2017, 2016) GUSH gained around +85% and +47% within 91 and 229 days respectively. This sets a Target Zone of 19.50 - 25.00.