glennjoy1

glennjoy1

I just went long the Jan contract with a target just below 40 I have a stop loss at the Bollinger band 0.5 SD lower level.

glennjoy1

Ok..Where is the bottom in crude? That is the 60 billion barrel question! If only we knew...so I had a look at the monthly line chart for WTI and saw that at several major peaks in the past crude then fell 70% before a bottom was formed. OK it's only a small sample statistically and you wouldn't bet the bank on it BUT the new current projection feels somehow right...

glennjoy1

Looking at this 4hr chart it is clear that bears are in control as there is nothing at all to indicate a change of trend. In fact it looks like crude could fall even further to the late 30's or early 40's looking at the Fibonacci channel 0(34.18). The reason I chose this channel as the first point of reference is that it signified the base line to which the market...

glennjoy1

This is a very simple system to go long using the CM Williams Vix Fix and the 9 period EMA. As Chris Moody suggested (you produce some amazing work Chris..just thought I would throw that in) a useful alert is when the green bar of the CM Williams Vix Fix changes to grey (ie the next bar after the last green bar) indicating a bottom may have formed. Now I use the 9...