mikebiz

PRO
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Last visit Joined a year ago
Markets Allocation
22 % commodities 4 % forex 2 % stocks 72 % other
Top Mentioned Symbols
USOIL 32% | 16 XAGUSD 10% | 5 USDWTI 8% | 4 SOYBNUSD 8% | 4
mikebiz mikebiz PRO SM1!, W, Long , 11 days ago
SM1!: Can Soybean Meal be ready to challenge last year's high
4 0 2
SM1!, W Long
Can Soybean Meal be ready to challenge last year's high

Based on the ADX and TSI, I think that bean meal is setup to make a run at the highs from last year if not the gap on the SM1! chart from June 2014. weekly price has found support on 100EMA and has pushed through 200EMA already but has pulled back.

mikebiz mikebiz PRO USOIL, D, a month ago
USOIL: Crude oil staged for pop then drop
175 0 6
USOIL, D
Crude oil staged for pop then drop

Some thoughts for the coming weeks. Borrowing 14 month cycle from @smitheric1970 chart (red vertical lines on chart) and considering the previous chart posted that showed ATR reading from 2014 and now. Since the last 14 month low on 2016/02/17, there have been 4 instances when ADX has moved below 20 (A-D). (A) was brief so won't be considered as usually you ...

mikebiz mikebiz PRO NGAS, D, Long , 2 months ago
NGAS: Can Natural Gas challenge 4.050 or 4.450
132 3 4
NGAS, D Long
Can Natural Gas challenge 4.050 or 4.450

Since the first of November, NGAS has had a nice run up but now appears to be pulling back for a correction. As part of my learning Renko Charts, I've created three views of NGAS: Daily TF: source/close | style/traditional | blksz/.050 2Hr TF: source/close | style/traditional | blksz/.025 5Min TF: source/close | style/traditional | blksz/.010 With the price ...

mikebiz mikebiz PRO USOIL, D, 2 months ago
USOIL: Thoughts on using Renko Charts (cont.)
128 0 7
USOIL, D
Thoughts on using Renko Charts (cont.)

Some of the following ideas are based on concepts outlined in this link: http://forexformation.com/mechanical-trading-system-based-on-renko-charts/ And, from the book "New Concepts in Technical Trading Systems" by J. Welles Wilder, Jr. In my previous ideas on renko charts, my main goal was to identify price consolidation based on ADX and then trade the ...

mikebiz mikebiz PRO USOIL, D, 2 months ago
USOIL: Is USOil ready to test 60?
72 0 4
USOIL, D
Is USOil ready to test 60?

Is USOil ready to test 60? This idea is based on my ongoing learnings with Renko Charts in conjunction with indicators I've used on other types charts. I currently have 3 views of a market that I'm looking at and for USOil it breaks out like this: Daily TF: source/close | style/traditional | blksz/.50 2Hr TF: soruce/close | style/traditional | blksz/.25 5min ...

mikebiz mikebiz PRO LE1!, 120, Long , 2 months ago
LE1!: Live Cattle correcting before next run up
16 0 3
LE1!, 120 Long
Live Cattle correcting before next run up

It looks like Live Cattle is pausing to correct before next run up. On the 2hr renko chart (blksz .50), the charcoal box represents what the 5min renko (blksz .25) expands out to. I think that the 5Min will need to go through a corrective cycle prior to price continuing up. https://www.tradingview.com/x/Pozw904F/

mikebiz mikebiz PRO HE1!, D, Long , 2 months ago
HE1!: Can Hogs make it back to 80's
6 0 3
HE1!, D Long
Can Hogs make it back to 80's

I try to follow the meat complex but get distracted by other markets. Hogs and Cattle, since November were apparently the markets to follow and, for some reason, I haven't tracked them. Hogs have made an incredible run since mid November and could be at a pause point. How they open this coming week should add clarity if there is more to the correction underway ...

mikebiz mikebiz PRO SOYBNUSD, 120, 2 months ago
SOYBNUSD: Thoughts on Renko Charts (cont.)
48 0 3
SOYBNUSD, 120
Thoughts on Renko Charts (cont.)

Since my last discussion on Renko Charts, I've made some changes to what my view of long term vs. short term is. Currently, I'm experimenting with a 2hr and 5 min chart I'm continuing focus on my primary scenario of a breakout of price based on consolidation dictated by the ADX of the DMI. The general goal is to find 2hr charts that have an ADX reading of 20 ...

mikebiz mikebiz PRO USOIL, D, 2 months ago
USOIL: Thoughts on using Renko Charts
129 0 6
USOIL, D
Thoughts on using Renko Charts

One of the first links I came across which seemed to have the least complex strategy: https://www.dailyfx.com/forex/education/trading_tips/chart_of_the_day/2014/03/27/The-3-Step-EMA-and-Renko-Strategy-for-Trading-Trends.html Another challenge I quickly came to was what settings to use on TV for Renko charts. A special thanks for @GcNaif for helping me with ...

mikebiz mikebiz PRO DXY, M, 2 months ago
DXY: DXY may be approaching resistance at 104.4x
35 0 3
DXY, M
DXY may be approaching resistance at 104.4x

Based on the monthly and weekly charts, DXY may be approaching resistance of an upper channel line in the area of 104.4x Weekly: https://www.tradingview.com/x/lXt9Ete4/

mikebiz mikebiz PRO WHEATUSD, M, 2 months ago
WHEATUSD: Current thoughts on wheat
18 0 4
WHEATUSD, M
Current thoughts on wheat

The following are some charts that have my current thinking on wheat on them which includes monthly, weekly, daily, and 4hr. Weekly: https://www.tradingview.com/x/oVm0fucW/ Daily: https://www.tradingview.com/x/JO8NJh61/ 4hr: https://www.tradingview.com/x/KWC0a1xI/

mikebiz mikebiz PRO SOYBNUSD, M, 2 months ago
SOYBNUSD: Current thinking on Soybeans
9 0 2
SOYBNUSD, M
Current thinking on Soybeans

I've included several charts here that high-lite some of my current thoughts on Soybeans. Starting with the monthly chart and then working through the weekly, daily, and then 4hr that has some thoughts on entry into the market to long side. Weekly: https://www.tradingview.com/x/Sl8QOHNN/ Daily: ...

mikebiz mikebiz PRO USOIL, M, Long , 2 months ago
USOIL: Current thoughts on crude oil
181 1 5
USOIL, M Long
Current thoughts on crude oil

These charts represent some thoughts I have on current crude oil prices and action. I'll start with the monthly chart. I believe that a major downtrend is still in play and that price is moving up toward the upper channel. Weekly chart: https://www.tradingview.com/x/4jltlZz8/ Daily chart: https://www.tradingview.com/x/ViUtqg8q/ 4Hr ...

mikebiz mikebiz PRO SOYBNUSD, M, Long , 2 months ago
SOYBNUSD: Soybean staging for another run at resistance
20 0 6
SOYBNUSD, M Long
Soybean staging for another run at resistance

Is soybeans setting the stage to make another run at an upper channel line of resistance started with the August 2012 high? Current weekly and daily action looks like this is the case. Should price continue up, how it responds will indicate if new shorting positions should be taken of existing longs can be held. Another option would be to hold longs with this ...

mikebiz mikebiz PRO USOIL, D, 2 months ago
USOIL: Crude Oil setting up for consolidation before next run
71 0 5
USOIL, D
Crude Oil setting up for consolidation before next run

Since the end of September, crude oil has been on a roller coaster ride with $6 - $10 price swings and not pausing to catch its breath. I think that this week may signal a new consolidation phase before the next leg up on an ascending triangle that's playing out on the weekly chart. If this plan is to come to past, the first milestone will be for daily price to ...

mikebiz mikebiz PRO SM1!, W, Long , 3 months ago
SM1!: Soybean Meal and Soybeans ready for bullish push?
11 0 2
SM1!, W Long
Soybean Meal and Soybeans ready for bullish push?

On weekly chart, it looks like Soybean Meal is ready to make a push higher. Could we see it challenge the highs of last June?

mikebiz mikebiz PRO USOIL, D, 3 months ago
USOIL: USOil:  forming an ascending triangle or a rectangle channel?
65 0 4
USOIL, D
USOil: forming an ascending triangle or a rectangle channel?

Is current USOil price action forming an ascending triangle or a rectangle channel? I think that the price action over next several weeks will provide an answer. On the daily chart, price has moved back to a 50% retrace of a rectangle channel but it has also recently bounced off of a potential trend line forming the bottom of an ascending triangle. The one ...

mikebiz mikebiz PRO USOIL, D, Long , 3 months ago
USOIL: USOil setting a bottom in a larger ascending triangle
142 0 7
USOIL, D Long
USOil setting a bottom in a larger ascending triangle

Using the weekly and daily chart for USOil, I think that price is setting a third base in an ascending triangle. There looks to be a good area of support at the 42.9x - 43.1x area and will watch to see if price moves up off this support. Watching the HA chart (top) for some type of pattern to signal trend change along with confirmation in indicators. If this ...

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