Loading ...WTIC…
WTIC could be in for another choppy consolidation phase seeking to find direction…
Does the MACD have a BULLISH reverse divergence? or does the MACD breach zero for a BEARISH turn?
Note the blue boxes, this could be a replication…
Of course I would be bullish if $58.00 is breached…sitting this one out, the “easy” bull money has been made…
I got sucked into the last consolidation, nothing was accomplished, just frustration…time better spent on other trades…
You could be right, Eagle. I am on the sidelines so far because of the volume and price weakness of the stocks by comparison with oil.
Yes, over 58 verifies the move.
I’ve been following your work.
Thank You for the posts I’ve been reading them all doing some 20/20 trading with the info you’ve passed on recently. Compared your trade calls too mine you are ahead by a mile lol.
If I’ve learned anything from your work the MACD cross just killed this trade in it’s tracks, am I right by your rules? If the MACD is not + don’t jump in?
Thanks again.
The MACD is not called “daddy mac” for nothing…This can be a lagging indicator, but yes, usually this is the case. If the MACD resets and BULL crosses above zero while the price action is consolidating/sideways, this could be the signal for another impulse move higher. Learn to note the positive/negative divergences which can be helpful also–can foretell future direction…
I’m trying to put it all together ES.
I’m a slow learner but my hands are cut from catching knives so now I must learn. Not that this is a bottom, but I’m especially interested in the mid rally action where some of the indicators start to look bearish, ie. determining a top from a mid rally. I would say this chart shows a top with a lengthy decline unless some geo-political happens from the MACD?
During impulse moves best to ignore the shorter term indicators; yes, give false signals…I find the moving averages on the 60/120 chart give one the best edge. Following the trend is where money is made; thus, the moving averages…My impression is bearish; however, the Middle East could explode at any moment.