Where is oil headed? 45 or 79?

1 minute ago, Top Oil Trader said:

The trend up could resume if 54.5 is hit. 50.5 must hold for it not to hit 48. I do think at 50 there will be major writers trying to protect their options they wrote on PUTS. And we could see some crazy random action as it tries to break 50. 

Do you see it short term going lower than today's close? 

 

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exited my shorts at 50.98 

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Most likely will drop again close to 52 area.

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well at least i exited the shorts at the low.

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if they take out 54 - 54.5, its back up to 58 - 60s.

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8 minutes ago, Top Oil Trader said:

if they take out 54 - 54.5, its back up to 58 - 60s.

☺️

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Currently went long at 52.6 looks like they are going for the 54.5.

What is amazing is that no matter what study you put on your chart its all worthless. Even if you use the best trading software, I think its now $900 a month, forget the name, but its what the big trading firms use.

No matter what analyst you listen to, all get it wrong over and over again.

Trend lines are subjective, what timeframe etc. Then you have the billionaires with their 1000s of traders, trying to take out the little guy. My estimate is, from seeing what goes on, there are at least 25,000 full time traders, with 100 of thousands of programs created by Math PHDs., that are constantly taking out the mom and pop trader. Thats all they do, they are not directional or macro traders.

So what to do? Is their a solution to this problem? As soon as there is and its published, that persons trades will be taken out too.

Many teach on the internet how to trade, try them, (may cost you 7k), but make sure you can get your money back, it might all be a mirage.

  • Rolling Eye 1

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5 hours ago, Top Oil Trader said:

Currently went long at 52.6 looks like they are going for the 54.5.

What is amazing is that no matter what study you put on your chart its all worthless. Even if you use the best trading software, I think its now $900 a month, forget the name, but its what the big trading firms use.

No matter what analyst you listen to, all get it wrong over and over again.

Trend lines are subjective, what timeframe etc. Then you have the billionaires with their 1000s of traders, trying to take out the little guy. My estimate is, from seeing what goes on, there are at least 25,000 full time traders, with 100 of thousands of programs created by Math PHDs., that are constantly taking out the mom and pop trader. Thats all they do, they are not directional or macro traders.

So what to do? Is their a solution to this problem? As soon as there is and its published, that persons trades will be taken out too.

Many teach on the internet how to trade, try them, (may cost you 7k), but make sure you can get your money back, it might all be a mirage.

when we close the deal and post it here, then let's talk about what and who costs ....

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Here is the thing with trading.

If you try and trade in and out every day, you will never make it the bots will get you almost every time.

However, if you can pinpoint the pivot points, the moves that sometimes are the beginning of something big, then you can capture some serious returns.

Every instrument (at least the big ones), have their parameters which can be used over and over again,  of when they decide to move. But the instruments don't use the same parameters, so its not plug and play.

But if you can wait for those setups, its more than charts, indicators, and patterns, but if you can wait for those times not taking big positions you will have a big chance of beating the bots.

Bottom line play every day, you dont stand a chance, use common swing methods, you dont stand a chance.

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