You need water to survive in the desert. An Oil bull is around )Got the title? :D
This is what Oil bull saw:
This is what they should have seen:
By the way, the dow is in a similar situation to Oil a few months ago, it MIGHT reverse (with these 650 billion borrowed $), not shorting it yet, but I sure am not going long I am telling you this.
It's all just a war between bulls & bears.
In my opinion, a good countertrend/reversal trader will now wait for bulls to show up, and start winning some battles.
Yes a v shape is possible (is it actually?) but I think it is very unlikely, I'd rather miss out something that happens once every 15 times.
The bulls got rekt so hard smh.
Whether you are trend following or counter trend, you got to know when the war is starting to look bad and run away like the dirty coward you are.
This is a war where scheming deceitful cowards win, not "never give up never surrender" heroes.
If you want to be a warrior, join the counter trend traders but wait for others to fight for you first, then charge and help the losing side turn the tide.
There is no way (that I know of) to do this mecanically or write it down, it's all an art, a discretionary art.
I strongly believe doing things this way is far more dangerous than simply following the trend. The thrill of the hunt <3
I will look for the bulls to show the tip of their noses before the box to consider joining them in the box.
Will update this. For now I am just pointing and laughing @ reKt bulls.
