Crude Oil Rogue downwave starts soon

[deadbroke]

Most of my nearly 6k posts are live trades called right here on t2w. I'm no armchair critic my friend. I've been around the block enough times and for enough years to know bullsh1t when I see it.

But, as this is your thread, I'll leave you to it...

Peter

Shocked that Peter is not giving me some sh*t right now given that Crude is doing a rally that causes HERD members to froth and glisten and glow. Heck the 4H bar is sooooo large, Peter should be dispensing aphorisms galore.

Where art thou, Pete?

------------------------------------------------------
When I was back there in Seminary School
There was a person there (Pete?) who put forth the proposition
That you could petition the Market with prayer
You cannot petition the Market with prayer.
--------------------------------------------------------

The Doors: The Soft parade - YouTube

Pete is advised to listen to especially listen to the part, "The monk bought lunch" and beyond.

 

[novenabye]

i also can predict that crude oil will have a down wave and and same time it will effect the new and old car sells report which may give little bit of room to all the major currency against usd same time industrial production may increase from the normal if the crude price go down

Short NOW @ 99.4

 

[deadbroke]

Switching to the Daily view for the perspective that deadbroke loves ....

Crude has arrived at a magnificent level of support - the 50% Fib + 200-day m.a. (almost)

Take out the 200-day and I will have my way with Crude, but the 200 is a formidable support so my odds will increase if King Dollar intervenes and plugs both Crude and Gold.

Strong support equals good odds for a rally. That we got. Now what?

Remain SHORT the Crude. King Dollar is descending to the 50% Fib and appears to be whittling on a piece of wood. I got the feeling that when he stops whittling somethings gonna happen.

 

[MoonRocket]

As a casual observer of crude and the Dow.......Would it be fair to say that crude tends to rise when the Dow is also on the up?
There is blow-off of super sonic proportions coming to the Dow and then you will be perfectly set but how are you set for margin?
I admire your conviction but is averaging down in a relentless bull run of the Dow a wise thing, and crude is unlikely to collapse under these conditions right now.
Take what I say as if a grain of salt....I was a dead set loser when it comes to holding
long term trades.

 

[awaw]

As a casual observer of crude and the Dow.......Would it be fair to say that crude tends to rise when the Dow is also on the up?
There is blow-off of super sonic proportions coming to the Dow and then you will be perfectly set but how are you set for margin?
I admire your conviction but is averaging down in a relentless bull run of the Dow a wise thing, and crude is unlikely to collapse under these conditions right now.
Take what I say as if a grain of salt....I was a dead set loser when it comes to holding
long term trades.

it does trend with the dow to a certain extent but at the moment huge stockpiles are keeping oil low.
usually when the usd index falls oil rises, for the last 6 weeks they have both been falling
the main factor affecting oil prices is the huge stockpiles at cushing, and i assume we will see a further increase when the eia report comes out today

i personally think the dow is hugely overvalues at the moment, if you look at its rise since the beginning of the recession, we are approaching near the levels of pre recession, do you think the world is that close to getting back to normal????
i dont think it is either

 

[deadbroke]

i

i personally think the dow is hugely overvalues at the moment, if you look at its rise since the beginning of the recession, we are approaching near the levels of pre recession, do you think the world is that close to getting back to normal????
i dont think it is either

Good observation.

the lesson:

its generally almost impossible for a rich man to go to Heaven

its generally almost impossible for a rich-in-chats-poster to go to trading Heaven.

deadbroke, 2009.

 

[YouAreNotFree]

Bull flag playing out.

 

[deadbroke]

The low of the current rally on 1H today (thurs, Feb 16-12), when decisively broken is the 1H SHORT entry on Crude.

Load weaponry now and wait for trigger.

Good luck.