CL1! - Crude Oil Turning South

21 Şub 2022

Howdy!

How's it going?
Weirdo markets right now in my opinion.
But there's always a market we can play.

Let's see what we have on Crude Oil:

Isn't that price behavior wonderful?

The max. excursion line marks the upper resistance on the weekly time frame.

Go, watch crude on the weekly. There's a observation to make, right at the top of EACH of these turning points. Tell me what you find ;-)

Now, since we have identified the upper extreme (we have a high probability that it IS the upper extreme for now), we can look for a trip to the south = shorting the market.

Five signs as a filter:
1. a tiny H&S
2. break of a short term TL
3. break of the RSI
4. divergence of the AO
5. second cross of the MACD

I really don't need more to short this market ;-)

Don't forget to let me know what observation you made on the weekly.

24 Şub 2022

İşlem kapandı: durdurma seviyesi

Ha!

For such unexpected situations we remember what stops are fore.

Let's see what happens next.