Goldtent TA Paradise

WTIC–Randy

1. Randy says:

   December 16, 2016 - 3:59 pm at 3:59 pm

   I agree, with the OPEC agreement oil should be a moon shot, there are obviously still concerns, USD strength for EM’s, demand concerns and let alone whether the agreement will stick. Still short oil but I did skid my NG trade when the sell off started after 3:00, too risky to stay in over the weekend, the way this thing moves NG could up or down $1 either way after the weekend.

2. EagleSeagle says:

   December 16, 2016 - 4:02 pm at 4:02 pm

   Yeah, WTIC is volatile enough. NG even more so, you did the right thing…

3. pedro_deleon says:

   December 16, 2016 - 5:31 pm at 5:31 pm

   I disagree, except perhaps in the short term.
   But I spend more time than many looking at longer time frames, and dailies only for entries and exits.
   Shorting crude is not on my radar just yet.
   And that comes from someone who translates T/A into EW, not someone drawing conclusions from EW first or alone.
   Hamilton the Canadian EW guy has a recent count I like that remains bullish.

4. Fullgoldcrown says:

   December 16, 2016 - 6:38 pm at 6:38 pm

   I see a nice Inverse H and S there…take a look ..its there

5. Argentaurus says:

   December 17, 2016 - 9:10 am at 9:10 am

   I think we have resistance just above 52.25-52.50 which I think will cap price first time up, then lets see what the price action gives us. Notable support approx 47.

6. Randy says:

   December 17, 2016 - 2:46 pm at 2:46 pm

   Weekly candle is a doji, two ugly candles in successive weeks, could pop still as there is a IHnS built out the past 2 days signalling a $2 move if it breaks out. I still think it will be a bull trap before the smash.

7. Argentaurus says:

   December 19, 2016 - 8:24 am at 8:24 am

   Taken partial profits for free trade, running the remainder. $47 (major) 48 (minor) looks like potential support.