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Sweet, sweet Oil

Oil made a nice move today. Now I expect a pullback to 55.12/47 before continue higher.
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Quoting LCForex
Oil made a nice move today. Now I expect a pullback to 55.12/47 before continue higher. {image}
I think that move was on inventory levels. I don’t see the trend continuing though.
Oil should continue lower for now.
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Let see if after this ending wedge we could continue lower.
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Oil should continue lower to 53.85/56
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Quoting LCForex
Oil should continue lower to 53.85/56 {image}
Oil bounce hard from the 53,XX area breaking high. Possible to retest 55.XX for now.
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Another wedgy in OIL
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Quoting LCForex
Another wedgy in OIL {image}
Did you trade it?
Quoting helgastrxd
{quote} Did you trade it?
Really I do not remember wwhen the last time I trade oil. I will wait below 50 until I see possibilities
Don't believe me just watch!
Quoting LCForex
{quote} Really I do not remember wwhen the last time I trade oil. I will wait below 50 until I see possibilities
I’m with you on this - have some capital buffer on the side of Sweet Crude slides good bellow 50. It bottoms somewhere between December and February.
Quoting LCForex
{quote} Really I do not remember wwhen the last time I trade oil. I will wait below 50 until I see possibilities
We will see it but it may take a number of months, if Middle East tensions crop up again maybe more.
Quoting helgastrxd
{quote} We will see it but it may take a number of months, if Middle East tensions crop up again maybe more.
when do you change your mind about trend?
Don't believe me just watch!
Quoting LCForex
{quote} when do you change your mind about trend?
Honestly - I’ve never had the “right” swing sentiment - every time it is either a little bit later or a little bit sooner :-).

The only real tool I have is a consideration when a price is “low enough” - especially for energies. And also - how much time I can wait before reaping some profits. It works - to a different degree of “profitability” - but it works.
Quoting michaelpelly
{quote} Honestly - I’ve never had the “right” swing sentiment - every time it is either a little bit later or a little bit sooner :-). The only real tool I have is a consideration when a price is “low enough” - especially for energies. And also - how much time I can wait before reaping some profits. It works - to a different degree of “profitability” - but it works.
Well said. Nobody out there can time the market. As michaelpelly eluded to, there's a lot of instinct and intuition that goes into some decisions. But just too add to this convo, it's not about timing sentiment change. It's more about knowing that there's a shift and why. If you make a trade it's smart to always give yourself enough room in case you're early on a call. As far as being late on taking profits, that's more about money management.

As far as where oil is going. I'm not as certain as I used to be when I was very bearish. Bloomberg shows most economists are predicting $55-$56 through Q3 2020.
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We must learn who is gold, and who is gold plated
Quoting EventsTrader
{quote} Well said. Nobody out there can time the market. As michaelpelly eluded to, there's a lot of instinct and intuition that goes into some decisions. But just too add to this convo, it's not about timing sentiment change. It's more about knowing that there's a shift and why. If you make a trade it's smart to always give yourself enough room in case you're early on a call. As far as being late on taking profits, that's more about money management. As far as where oil is going. I'm not as certain as I used to be when I was very bearish. Bloomberg...
55-56 for me is too conservative. Above $70 for next year, i want to catch it below 50.
Don't believe me just watch!
Quoting EventsTrader
{quote} Well said. Nobody out there can time the market.
I can. I have been known to buy at the extreme top and sell at the bottom tick. Shh, don't tell anyone.
Quoting LloydOz
{quote} I can. I have been known to buy at the extreme top and sell at the bottom tick. Shh, don't tell anyone.
The secret's out LloydOz. Give us the goods.
We must learn who is gold, and who is gold plated
Things are not looking good with US-China trade talks. Oil prices in decline:
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We must learn who is gold, and who is gold plated
OIL4H
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