For me as a technical swing trader on H4 (ignoring most of the news or fundamental data), Crude Oil is still in an unbroken Main Uptrend that is currently undergoing a Correction in form of a Secondary Downtrend. So I am flat, waiting for the Uptrend to continue or the corrective downtrend to turn into the Main Trend.
Joined Mar 2008
Status: Name real with real own way
pa in very big bull set up, , breakout long back and now will wait for a top failure for pull back enough , having very early signal breaks 118.85 next times for target2 117.76 play while limit up or next signal 117.76 and confirmation failure 116.76 and without broken signal early and or over signal 2 can further bull towards 120/21 very possible . anyway playing each leg carefully till a top failure confirmation and play good bear for targets 1 93.69 , target 2 at strong support and limit 85.83 to below 62.28 and even 54 areas . take care
brent also similar .
This is from an old Zero Hedge article, showing how HFT algos were used,
in conjunction with the API and the DOE inventory announcements,
to create short-term profit-taking opportunities: i.e., sudden sell-offs and
sudden ramps. I put some of the text from the article on the graphic;
the link to the original article is there, although it is behind a paywall now.
Attached Image (click to enlarge)
"We are all the fools of time and terror..." — Lord Byron