TreeDoc

PRO
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About me I generally favor scalping as a means of achieving my end, but like to understand where the fundamentals are driving the price target so I can swing the trade and play mainly in the direction of the trend winds. I don't like black helicopters!
Joined
At worst, one is in motion; and at best, reaching no absolute in which to rest, one is always nearer by not keeping still.
Markets Allocation
35 % stocks 65 % other
Top Mentioned Symbols
TVC:USOIL 41% | 7 MU 35% | 6 FX:USOIL 23% | 4
TreeDoc TreeDoc PRO USOIL, W, Short ,
USOIL: USOIL rejected from 2015 trendline on heavy volume
150 0 7
USOIL, W Short
USOIL rejected from 2015 trendline on heavy volume

Overbought UKOIL leading the move down

TreeDoc TreeDoc PRO USOIL, 240, Short ,
USOIL: Breakdown of USOIL ascending triangle close at hand
268 0 10
USOIL, 240 Short
Breakdown of USOIL ascending triangle close at hand

USOIL is very cyclical in nature. Breaks happen suddenly and without warning. Prepare your positions to deal with rapid change, and have an exit plan ready.

TreeDoc TreeDoc PRO USOIL, D, Long ,
USOIL: Huge momentum behind oil
117 0 8
USOIL, D Long
Huge momentum behind oil

Oil hard to oppose here. The downdraft was overdone so the oil price is now compensating upwards looking for fair value, while new news including the first reduction in US production and the first reduction of the US rig count this year is adding coal to the boiler. Bot were announced this week. Watch for the Chinese Caixin PMI on Sunday 2 July. This will give ...

TreeDoc TreeDoc PRO USOIL, D, Long ,
USOIL: WTI Crude forecast pre-Trump's arduous O-seas adventures
148 0 6
USOIL, D Long
WTI Crude forecast pre-Trump's arduous O-seas adventures

Whatever the political BS from Trump's ardous travels away from his own bed, great, amazing TV soaps and pet cheese burger (never has a US president suffered as much for so long for his country!) - I'd suggest that both Saudi and USA are on the same page and that will not hold oil back. Also the OPEC meeting next week will still hold surprizes which cannot be ...

TreeDoc TreeDoc PRO USOIL, 240, Short ,
USOIL: Possible price action following surprize oil draw pre OPEC meet
86 0 5
USOIL, 240 Short
Possible price action following surprize oil draw pre OPEC meet

The -6M draw on Wednesday took many by surprise, and sounds like oil is being moved around rather than being used up. The price action following the news was subdued, as if there is no enthusiasm for what would have been very bullish news under normal circumstances, given the Fed didn't hike and DXY took a steep fall. OPEC side meeting in Algiers is on Wed 28th, ...

TreeDoc TreeDoc PRO USOIL, D,
USOIL: Expecting rangebound trade until OPEC meeting end of Sept.
122 2 6
USOIL, D
Expecting rangebound trade until OPEC meeting end of Sept.

OPEC chatter will limit the price floor for now. Doubts of OPEC ability to reach a meaningful decision will limit the price ceiling, longs have been bitten once already. Expect oil to trade within a range until OPEC have had their meeting. This is good day trader territory.

TreeDoc TreeDoc PRO USOIL, 240, Short ,
USOIL: Effect of fundamentals on USOIL
71 0 6
USOIL, 240 Short
Effect of fundamentals on USOIL

OIl is now suffering from the over-hyped bull effect of opec. Friday's non farm payroll numbers will have a dramatic effect on the US dollar as a high jobs number will put further pressure on the Fed to hike rates in September. Oil will feel that effect.

TreeDoc TreeDoc PRO USOIL, W, Short ,
USOIL: Weekly channel for USOIL
84 0 10
USOIL, W Short
Weekly channel for USOIL

The recent push up by traders despite extremely bearish rig numbers has taken USOIL to the top of the weekly channel. The candles are still in the Ichimoku cloud and the weekly trend is still down. The formation suggests that this is an optimum time to short oil. The announcement of the Baker Hughes rig count took the price down by 70 cents almost immediately. ...

TreeDoc TreeDoc PRO USOIL, 30, Short ,
USOIL: H&S on the top of a megaphone formation
91 0 6
USOIL, 30 Short
H&S on the top of a megaphone formation

This downward move will end a very volatile week where poor fundamentals have been in competition with balancing of portfolios.

TreeDoc TreeDoc PRO USOIL, 240, Long ,
USOIL: Risk / Reward is in favour of Crude Oil longs leading into EIA
155 2 5
USOIL, 240 Long
Risk / Reward is in favour of Crude Oil longs leading into EIA

The wedge from early July could be resolved on Wednesday ....

TreeDoc TreeDoc PRO USOIL, 240, Long ,
USOIL: WTI scenario for first week in Aug '16
112 0 7
USOIL, 240 Long
WTI scenario for first week in Aug '16

A pull back from the drops is long overdue. The yellow triangle could provide the area of the next test between bulls and bears - straight after the EIA report at 10.30am on Wed 3rd. A good report and falling USD could result in a channel breakout. Another bad report could see crude falling to the next fib at 38.84, and another cigar for bears.

TreeDoc TreeDoc PRO MU, 30, Long ,
MU: Cup and Handle has formed on MU chart
38 0 2
MU, 30 Long
Cup and Handle has formed on MU chart

This bullish formation is supporting the double bottom bounce. Expecting to see low to mid 30's very soon.

TreeDoc TreeDoc PRO MU, D, Long ,
MU: Micron outperforming market and moving back into uptrend
15 0 1
MU, D Long
Micron outperforming market and moving back into uptrend

Following the change in market sentiment, if Micron closes above 29.32 it's back in the uptrend channel. Next resistance at 29.75 and then the Fibonacci retrace to 30.37

TreeDoc TreeDoc PRO MU, D, Long ,
MU: MU borderline acceptable, chance of upside tomorrow
9 0 1
MU, D Long
MU borderline acceptable, chance of upside tomorrow

50 dma support broken but the fibonacci retrace to 28.19 was nearly recovered at the close. I certainly would not go further long, but can go to bed with some hope for tomorrow provided the markets can do their part.

TreeDoc TreeDoc PRO MU, D, Long ,
MU: MU may already be in recovery mode
8 0 1
MU, D Long
MU may already be in recovery mode

Trend line bounce and 0.382 Fib retracement at 28.19 almost coincide.

TreeDoc TreeDoc PRO MU, D, Long ,
MU: Micron close to breaking out of the downtrend from Dec.
99 0 3
MU, D Long
Micron close to breaking out of the downtrend from Dec.

Micron will be in trend reversal if it closes above 28.8 today and 28.7 tomorrow (22nd April). A good entry point to go long. The close by 50 day MA will be the next resistance seen. Set a short stop to start with as there could always be volatility with MU, especially with the earnings season challenging the Indices. M&A rumors, a crazily low valuation and the ...

TreeDoc TreeDoc PRO MU, 60, Long ,
MU: Micron remaining patient at upper channel trend line
17 0 2
MU, 60 Long
Micron remaining patient at upper channel trend line

Over the last 3 weeks Micron has been making steady upward progress, waiting on a catalyst to break to the upside.

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