#OIL
#OOTT
#WTI
Understanding the
#EWP
is a must for any traders. To help my followers study the EWP, I have partnered with
#BobPrechter
at
#EWI
to offer free access to the
#Elliott
Wave Principle online. Use this link, , for instant access.
#OIL
#OOTT
#WTI
So here is the deal.
I would post less when there are fewer ppl like my comments. When more ppl like what they read, I would spend more time sharing my insights. When nobody likes my hard work, I post nothing. 😴
#OIL
#OOTT
#WTI
To receive the newsletter, click "Like" then reply with the email address. When there are 20+ "Likes," the newsletter will be delivered. No solicitation!
#OIL
#OOTT
#WTI
To receive the newsletter, click "Like" then reply with the email address. When there are 25+ "Likes," the newsletter will be delivered. No solicitation!
#OIL
#OOTT
#WTI
Something has happened to the
#backwardation
. The April contract was $0.20+ higher than the March contract last Friday but now the spread has reduced to $0.02 or even $0.01 only. This may indicate the shift of short-term dynamics of demand/supply.
No $100 oil in 2023. Here is why:
China has become what is called an “oligopsonist” in economic jargon: a buyer who can influence the market. As we have mentioned before, Saudis will set the price floor. China will set the ceiling. For this reason, absent any major political
#OIL
#OOTT
#WTI
[H1]
The RT was timely and valuable, and this is 100% true and free. 16 "Likes" so far. Whoever made money after reading the comment still doesn't like it has got to be kidding me! I need many more "Likes" on the tweet below before I would post the next one.
#OIL
#OOTT
#WTI
There were quite a few ultra-bears on my turf before Wed noontime. Now, most people are ultra-bullish so it's time to be bearish and yet they're nowhere to be seen. WTI is about to drop the 2nd leg next. A time to be bearish and it's now.
#OIL
#OOTT
#WTI
To the best of my knowledge, nobody has posted more REAL-TIME comments on WTI as frequently as I do on Twitter. My public service is free and it takes me a lot of time and energy and yet some ppl are still not happy and demand more free services. Come on, man!
#OIL
#OOTT
#WTI
Why?
I have posted more than enough comments on WTI and I would post whatever I'd like to comment on. Read the hashtags related to WTI and ignore those you don't like.
#OIL
#OOTT
#WTI
[H1]
The neckline [Cyan] of the previous H&S pattern has capped WTI's surge at 57.29. Expect a test of the LTL next week. The envelope has narrowed down quite a bit. An unwinding shall be happening next.
#OOTT
#WTI
Rule of Thumb:
Enter a long trade when WTI is at the weakest point, and everyone is scared to death.
Enter a short trade when WTI is at the strongest point, and everyone fears missing out.
#OIL
#OOTT
#WTI
[H4]
WTI has stayed below the neckline overnight. It even fell through the new LTL/ Fibonacci Fan ratio of 23.6% and is approaching 30.3% AOTW. While a temporary TL is holding up WTI, the price action has engaged in a clockwise rotation.
#OIL
#OOTT
#WTI
[M30]
The frenzy surge has triggered 2 TLs on the M30. The UTL is the R-zone, and the LTL the S-Zone. The volume indicates a divergence has occurred. If conservative, waiting for a breakdown at the LTL is a must.
#OIL
#OOTT
#WTI
I share my insights on WTI for free. There must be incentives for me to keep going. Knowing my comments are being "Liked" is a must. The RT below could be useful but won't help you trade WTI better, and yet there are many more "Likes." Does this make sense to you?
#OIL
#OOTT
#WTI
[H1]
The RT was timely and valuable, and this is 100% true and free. 16 "Likes" so far. Whoever made money after reading the comment still doesn't like it has got to be kidding me! I need many more "Likes" on the tweet below before I would post the next one.
#OIL
#OOTT
#WTI
To receive the newsletter, click "Like" then reply with the email address. When there are 25+ "Likes," the newsletter will be delivered. No solicitation!
#OIL
#OOTT
#WTI
[H4]
The bullish momentum has waned [DTR=60 pt.] For the past 48 hr, WTI has been supported by a layer of thin ice. The current H4 candle is swinging btw Fibonacci Fan 30.3% and NFF 33.3%. Since the rotation started yesterday, the outlook has dimmed quite a bit.
#OIL
#OOTT
#WTI
[H4]
WTI has stayed below the neckline overnight. It even fell through the new LTL/ Fibonacci Fan ratio of 23.6% and is approaching 30.3% AOTW. While a temporary TL is holding up WTI, the price action has engaged in a clockwise rotation.
#OOTT
#WTI
[H1]
#Oil
formed 6 homeless H1 candles after Friday's plunge, indicating that a continued rebound after the Sunday reopening is likely due to technical issues. The
#US
strikes on Friday may add some fuel to the 'fire.'
#OOTT
#WTI
There are three major events in early December:
Dec. 4: The next meeting of the
#OPEC
and allies
Dec. 5: An
#EU
ban on
#Russian
#crude
Dec. 5:
#G7
price caps on
#Russian
seaborne
#oil
All three are bullish, although pundits had a skewed bearish view on the third.
#OOTT
#WTI
Trading is expected to remain cautious ahead of an agreement on the price cap, due to come into effect on Dec. 5 when an
#EU
ban on
#Russian
#crude
kicks off, and ahead of the next meeting of the
#OPEC
and allies on Dec. 4.
@abc7newsbayarea
Soil liquefaction could be the cause of such a sudden collapse.
#ClimateChange
has raised sea level in
#Miami
beaches. A saturated foundation with liquified soil would lose support to the building above. This disaster is an urgent warning for all the residents in that region.
#OIL
#OOTT
#WTI
[H4]
After the frenzy buying the last two days, WTI has reached Fibonacci 112.8%. The red overhead TL is poised to intervene in the relentless upward move.
#OOTT
#WTI
Starting this week, I may add a simple sentiment note on retweets of news with a symbol next to
#WTI
.
+: bullish;
-: bearish;
0: neutral;
n: nonsense;
This addition is subjective and should not be used for your decision-making in WTI trading.
#OIL
#OOTT
#WTI
I didn't mention in the comment below that the frenzy surge was not over. Anyone who reads the writing and chart should see it. Knowing a movement is incomplete is critical. Taking profit or exiting losers before the reversal will keep you in a better position.
#OOTT
#WTI
NG [D1]
#NatGas
pulled back last Friday in anticipation that
#Gazprom
would restart
#gas
flows at 20%. Now the shutdown is indefinite; a surge in gas prices is expected on Monday. A retest of 9,987 is next.
#OOTT
#WTI
For a limited time, you can get EWI’s premium course on
#Japanese
#Candlesticks
for free. The course teaches you how to use Candlesticks as a simple, effective trading and risk-management tool. Visit this link & enter the code DBWTI.
#OIL
#OOTT
#WTI
The markets were making the new highs last week. When most Americans are suffering financially, this disconnection is so bizarre. In the face of stagnated employment recovery, such a divergence is a prelude to deep correction.
#OIL
#OOTT
#WTI
I have changed my blog to a private setting and am intended to keep the way it is. Anyone may unfollow me but this is not a revolving door. Once you're out, you won't be able to come back even if you request it. I don't like ppl who change their mind on the fly.
#OIL
#OOTT
#WTI
[H4]
The bullish momentum has waned [DTR=60 pt.] For the past 48 hr, WTI has been supported by a layer of thin ice. The current H4 candle is swinging btw Fibonacci Fan 30.3% and NFF 33.3%. Since the rotation started yesterday, the outlook has dimmed quite a bit.
#OIL
#OOTT
#WTI
"One-third of oil production"
This week, we may see a 50% increase in oil production in the US. With
#OPEC
+ oil production easing on a not-too-distant horizon, this back-to-back double whammy is legitimate for the bears to launch a long squeeze campaign next.
#OIL
#OOTT
#WTI
The last week’s continent-spanning winter storms triggered blackouts in Texas, Oklahoma, Mississippi, and several other states. One-third of oil production in the nation was halted.
#OIL
#OOTT
#WTI
[H4]
WTI has formed a daily Doji. With all the signs around, an easy conclusion could be made. That said, bear in mind, WTI is not a rational market. The Doji is likely transitional.
#OIL
#OOTT
#WTI
[H1]
"inferior"?
Unlike the old-school H&S formation, what WTI has formed on the H1 is a skewed pattern. It has a much higher potential and is more toxic depending on who you are. It's fair to say there are 4 types of H&S patterns.
#OOTT
#WTI
Many renters in the US are facing the threats of evictions. Most of them are not traders; otherwise, trading WTI may save them from kicking out of their apartments. It's easier said than done, but having a money-making side hustle is pretty helpful in uncertain times.
#OOTT
#WTI
"many retail traders have jumped on the bears' wagon and got killed."
Don't enter short trades just because WTI is trading above $100. Common sense does not apply to a heated oil market amid chaos.
No $100 oil in 2023. Here is why:
China has become what is called an “oligopsonist” in economic jargon: a buyer who can influence the market. As we have mentioned before, Saudis will set the price floor. China will set the ceiling. For this reason, absent any major political
#OIL
#OOTT
#WTI
[H4]
WTI has formed a daily Doji. With all the signs around, an easy conclusion could be made. That said, bear in mind, WTI is not a rational market. The Doji is likely transitional.
#OOTT
#WTI
As the
#Russian
invasion of
#Ukraine
drags on, the volatility in the oil market may increase this week, and big swings will be daily events. This chaotic market behavior is a double-edged sword; you may make a fortune or lose your shirt in no time: be cautious!
#OIL
#OOTT
#WTI
[H4]
WTI has stayed below the neckline overnight. It even fell through the new LTL/ Fibonacci Fan ratio of 23.6% and is approaching 30.3% AOTW. While a temporary TL is holding up WTI, the price action has engaged in a clockwise rotation.
#OIL
#OOTT
#WTI
While WTI set an HH last week, the chart below implies the current level is inferior to the H&S pattern below as defined by the neckline when turning the chart 90° clockwise. Sounds ridiculous? Yes, but it's what I see it.
#OIL
#OOTT
#WTI
[H1]
The neckline [Cyan] of the previous H&S pattern has capped WTI's surge at 57.29. Expect a test of the LTL next week. The envelope has narrowed down quite a bit. An unwinding shall be happening next.
#OIL
#OOTT
#WTI
Based on , when WTI is surging higher or plunging to rock bottom, I see it going deeper instead. This vision is not a delusion but how I see the market behavior unfolding.
#OIL
#OOTT
#WTI
If trading were based on knowledge, every college would've got a trading course. Trading is an art that cannot be learned but can be experienced, observed, and realized with wisdom and faith. In addition, EQ is more valuable than IQ in trading.
#OOTT
#WTI
[MN]
Why WTI is more likely plunging to $65 than surging to $140:
Due to
#backwardation
, the 7-yr high will get lower monthly; the UTL keeps the bulls at bay. The current formation has no bottom in place; thus, it is prone to fall to historical support at point B, $65.
#OIL
#OOTT
#WTI
[H4]
WTI has formed a daily Doji. With all the signs around, an easy conclusion could be made. That said, bear in mind, WTI is not a rational market. The Doji is likely transitional.
#OIL
#OOTT
#WTI
[D1]
Daily Volume:
02/09- 312,829
02/10- 41,100 AOTW
There is a lot of room for the remaining trading volume today. Expect a critical move to occur later. The key is hinged on the LTL and envelope.
#OOTT
#WTI
Make no mistake: I am neither a bull nor a bear; whether oil surges to $140 or plunges to $60 makes no difference to me as I trade WTI one day at a time. I detest
#OPEC
and big money's market manipulations for unjustified greed.
#OIL
#OOTT
#WTI
[H1]
A retest of the LTL has happened. The LTL was not meant to be WTI's guardrail so the breach was not fatal. The real meaning is defined in the book of .
#OIL
#OOTT
#WTI
[H1]
The neckline [Cyan] of the previous H&S pattern has capped WTI's surge at 57.29. Expect a test of the LTL next week. The envelope has narrowed down quite a bit. An unwinding shall be happening next.
#OIL
#OOTT
#WTI
[H1]
"inferior"?
Unlike the old-school H&S formation, what WTI has formed on the H1 is a skewed pattern. It has a much higher potential and is more toxic depending on who you are. It's fair to say there are 4 types of H&S patterns.
#OIL
#OOTT
#WTI
While WTI set an HH last week, the chart below implies the current level is inferior to the H&S pattern below as defined by the neckline when turning the chart 90° clockwise. Sounds ridiculous? Yes, but it's what I see it.
#OOTT
#WTI
'A myriad of concerns':
#China
is no longer
#America
's number-one trading partner as the relationship continues to worsen — here's why the new top country is a big deal for the
#US
#OIL
#OOTT
#WTI
Need 8 more "Likes" to deliver the newsletter. Reply with your email address to receive the newsletter for free. *Cannot deliver without an email address.
#OIL
#OOTT
#WTI
To receive the newsletter, click "Like" then reply with the email address. When there are 20+ "Likes," the newsletter will be delivered. No solicitation!
#OOTT
#WTI
Why do I post comments nonstop on Sunday morning?
I read the news and analyzed WTI charts to understand the oil market before the reopening tonight. I'd like to share my insights with fellow traders because it's the right thing to do.
#OIL
#OOTT
#WTI
Coming soon!
The newsletter focuses on WTI trading to help dedicated traders stay informed. Add your email to the waiting list if interested.
#OIL
#OOTT
#WTI
[W1]
WTI weekly shows a huge jump in volume. This is an indication of an extreme. The question is whether or not it will be dwarfed by that of next week. The markets shall bottom before the peak of the
#coronavirus
outbreak occurs. We may see more blood next.
#OIL
#OOTT
#WTI
[W1]
WTI weekly has formed a Doji. The bulls may be encouraged but it's likely transitional. Since Oct 2018, no Doji has appeared when a weekly reversal occurred. This time, the odds are even higher due to incomplete weekly downtrend.
#OIL
#OOTT
#WTI
The next newsletter is to be a "trading alert" but it won't be available until WN-021621 is delivered and expired.
Note:
please don't reply to the WN with "Thank You" notes or questions, or post email addresses on my DM.
#OIL
#OOTT
#WTI
To receive the newsletter, click "Like" then reply with the email address. When there are 25+ "Likes," the newsletter will be delivered. No solicitation!
#OIL
#OOTT
#WTI
[D1]
Like steel, WTI has its yielding points at various stages and of different patterns. But unlike steel, WTI has no fixed yielding point. This is why oil trading is so elusive.
#OOTT
#WTI
"plunging to $72 is nothing."
One event will make this scenario happen in no time: The revival of
#JCPOA
and lifting
#sanctions
of
#Iranian
oil export
Sit tight and rake your 2,000-point windfall shortly.
#OOTT
#WTI
After setting the new HH, WTI has plunged more than 220 pt AOTW. The coming reality was known to every oil trader and there is no fundamental shift in the last 12 hr. This is the fallout of the scheme of pump-and-dump. Only fools would buy WTI nearing $63.
#OOTT
#WTI
#USOil
has switched to
#backwardation
with lower future
#oil
prices. This structural change indicates the concern among traders about the demand outlook; thus, the current rally is more than meets the eye.
#OOTT
#WTI
[W1]
The last two weekly candlesticks formed a Bearish Engulfing pattern; should you follow the book and short WTI now? On the other hand, a historical support zone is right below; would you be long instead?
#OIL
#OOTT
#WTI
A lot of ppl were in a panic when WTI dropped like a rock. Take it easy. Having faith in one's judgment is a must unless the judgment is baseless.
#OOTT
#WTI
When WTI was marching toward 67, big banks such as
#GoldmanSachs
and BofA pumped up their forecasts of oil prices. Now, they are silent. Next time, when they are doing such a hindsight job again, you'd know the market has peaked. Believe it or not.
#OIL
#OOTT
#WTI
My resolution is to make $300k in 2019. Making $1,154 or more on average every trading day is needed. Can I make it? The chances are high due to the projected high WTI volatility in coming months.
#OOTT
#WTI
We are witnessing a classic pump & dump scheme run by large funds: pushed WTI up to set a new 7-yr high on a bad EIA then unloaded all together at the very peak. WTI plunged 70+ pts in less than 20 minutes. Only fools would buy at 87.90, and they deserve to lose money.
#OOTT
#WTI
I have shared numerous discoveries this weekend. No one has to agree with my findings or trade accordingly. Do your due diligence and make trading decisions independently.
#OOTT
#WTI
As
#Europe
is facing a severe
#NatGas
shortage, some power plants will have to switch to burning oil instead. This change shall increase oil demand on the continent. The market is trading on expectation; this is why an oil rally is likely.
#OIL
#OOTT
#WTI
It has been said too many times that mature traders think about risk first. Why?
Limiting your losses is the only way to win in the [oil] markets. That said, placing SL arbitrarily will only cause more damages. The best entry is the one that needs no SL.
#OOTT
#WTI
#EIA
report was negative and yet WTI surged and made a new high. It appears oil traders are always excited nowadays whether it's undersupplied or the other way around.
#NYMEX
is getting to a point more akin to a mental hospital than an oil market.
#OIL
#OOTT
#WTI
The frigid temperature across the US has slowed the supply but also created the storage problem. This could be the reason why backwardation shifted to contango. The April contract has been trading above the March contract since Monday.
#OIL
#OOTT
#WTI
Something has happened to the
#backwardation
. The April contract was $0.20+ higher than the March contract last Friday but now the spread has reduced to $0.02 or even $0.01 only. This may indicate the shift of short-term dynamics of demand/supply.
#OOTT
#WTI
Today, the oil market is in deep fear caused by
#China
's endless lockdowns. Due to rigid ideology, the
#CCP
won't change its zero
#COVID
policy. The greedy
#OPEC
member states are in a panic as their fortunes disappear at an alarming speed.
#OOTT
#WTI
#China
is likely seeing over a million
#COVID
cases and 5,000 deaths a day, report says. But
#Beijing
's official data is showing 7 deaths so far this week.
#OIL
#OOTT
#WTI
[MN]
WTI's monthly, weekly and daily highs all fall on Fibonacci 69.7% today. While most people are expecting more higher highs next, such a scenario is questionable. Beyond supply and demand, the oil markets are driven by the law of nature that none can control.
#OOTT
#WTI
The main drive today is the
#IEA
news. Will it have a lasting impact on WTI? As the war continues and sanctions pile on, the supply shortage is more significant than the coordinated reserve release. It's fair to say that the impact will be short-lived.
#OOTT
#WTI
#Delta
Variant didn't cause any selloffs like the plunge Friday.
#Omicron
Variant was used as an excuse by big funds to push oil prices down big time before the upcoming
#OPEC
meeting then get in at bargain floor prices. This week's price action will tell the truth.
#OIL
#OOTT
#WTI
Whoever wants to make quick returns from trading WTI follow this simple rule:
No swing trading;
Only day-trading or scalping.
One tick is worth $10. Trade 2 contracts for a minimum gain of 10 points, you gain $200 from each trade. 5 trades will bring you $1,000+.
#OOTT
#WTI
The severe plunge since Sunday has been overdone, as the supply and demand equation has not changed after the
#OPEC
decision on the extension. The price action reflected anxiety among
#Oil
traders, not the physical market changes.
#OOTT
#WTI
[D1]
"A breakout is expected later."
The two converging trendlines will eventually squeeze
#Oil
out of the confinement. The fallout could be sizable.
#OIL
#OOTT
#WTI
[M30]
The highlighted "Three black crows" is a bearish candlestick pattern that is used to predict the reversal of the current uptrend.
#OOTT
#WTI
[MN]
#Oil
has tested the monthly 200 SMA since November. As a historical support zone, expect more consolidation in the coming weeks before a decisive move.
#OOTT
#WTI
Yes, the surge made no sense and
#Saudis
manipulated
#oil
prices, but what are you going to do about it?
I am a trader, not an activist. I am not pretending anything but trying to figure out how to trade oil and share my insights with fellow traders.