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How did Open Interest tell me: Stay long as BTC Dumped!?!BYBIT:BTCUSD I was in 3 long trades as Bitcoin dumped on the 26th of May 2022. I had 2 choices. Close my longs because I saw price dumping below my entry or look at what Open interest was telling me to determine if this was a fakeout. I saw price dropping as OI was dropping. This meant that longs were closing out their positions, which means that when this ended, price could reverse quickly. Longs were closing out their positions and re-entering as shorts. As soon as this selling dried up, Longs started entering and then suddenly shorts were being liquidated, pushing the price up again. This is known as a stop run. Hit long stops and then hit short stops. Be aware of this kind of fakeout as it happens again and again! Learn to trade the retest and why it is important not to short at support and inversely why it is NB not to long at resistance, UNLESS you get a retest of that level! Not financial advice, DYOR. Papertrade before using real money. If this educational snipped helped you, please consider giving it a thumbs up and follow for more like this! Trade Safely and Learn something every day! Shawn
BYBIT:BTCUSD.PEducation
by zartraderguy
$OI Trading At Trendline Support$OI has caught our attention as it trades at trendline support above $5, down from 52-week highs of $20. Like all other stocks, $OI has gotten hit due to corona, but we think $OI has a good risk/reward setup. The stock trades at just 2x this year's earnings and 0.13x sales. Last week, $OI put out and update and here's what management had to say. “O-I’s operating performance through February has been solid, and pacing in-line with the company’s most recent earnings guidance for the first quarter of 2020. Overall, sales volume has been flat with the prior year. Higher shipments in Asia-Pacific (including China) and the benefit from the Nueva Fanal acquisition offset continued lower beer demand in North America which has been in-line with our expectations. We benefited from higher average selling prices as well as favorable sales mix and cost performance, especially at the company’s focus factories. We are pleased with the progress of our turnaround initiatives and overall business performance to date,” said Andres Lopez, CEO. Lopez continued, “Despite the challenges associated with COVID-19 and resulting economic disruption, O-I’s business continues to operate without interruption and recent demand patterns remain stable through early March. O-I continues to closely follow guidance from the World Health Organization, U.S. Centers for Disease Control and Prevention as well as federal and state governments in appropriate jurisdictions related to COVID-19. The company has been working with customers and suppliers alike to develop preparedness plans in response to this rapidly evolving situation. We are better integrated as an enterprise and prepared than ever to move with speed and agility to execute any contingency plans if required.” CFO John Haudrich added, “O-I continues to advance its strategic portfolio review, as expected, and the company’s balance sheet is sound. Following refinancing activity last year and given proceeds from recent divestitures, the company’s liquidity position is strong with cash and available lines of credit of approximately $2 billion at December 31, 2019 and no near-term bond maturities. Year-to-date through February 2020, cash flows compare favorably to the same period last year given lower working capital levels, lower capital expenditures and suspension of asbestos related payments. The Chapter 11 process of O-I’s subsidiary Paddock Enterprises is proceeding as expected. Paddock has opposed a request by the U.S. Trustee to examine its Corporate Modernization transaction, which is a strategy that has been widely and successfully used by other companies and which we believe enhances Paddock’s ability to resolve its liabilities fairly and in way that maximizes value for all stakeholders. We are confident that the Corporate Modernization transaction fully complies with Delaware law and will be validated through the bankruptcy process. Paddock remains committed to addressing its legacy liabilities in a just and appropriate manner and is continuing work with its creditor constituencies towards achieving a consensual Plan of Reorganization.” As always, proceed with caution and good luck to all!
NYSE:OILong
by InsiderFinancial
WTI crude holding key support for now, could squeeze shortsWTI crude oil has been testing the key psychologically-important $50 handle and long-term support for a few days now after a sharp drop on macro concerns (coronavirus hurting demand). Clearly prices are oversold in the short-term, but a more profound recovery will not come as surprise. Bulls need to see a daily close above short-term resistance at $51. This would also push oil prices above the bearish trend line seen on hourly and other intra-day charts, potentially triggered a short-squeeze rally.
NYMEX:CL1!
by Fawad-Razaqzada
2
WTI Oil: Sideways in preparation for $58.Following the previous analysis which suggested that the upside move that started after the 42.156 bottom, would evolve into an Inverse Head and Shoulders on 1D, was eventually materialized as the price virtually hit the 54.485 1D Resistance and expected target. This pattern (Inverse Head and Shoulders) will be completed once its neckline following the right Shoulder will be exhausted. This suggests sideways trading (consolidation) for a maximum of 2 weeks, creating a buy (long entry) zone within 49.40 - 50.20, until the price breaks towards 58.00. The consolidation on the neckline will be fueled by the balance between a bearish/ neutral 1W (CCI = -13.9565, Highs/Lows = 0.0000) and a bullish/ neutral 1D (MACD = 0.920, Highs/Lows = 2.0057). Take a look at our previous long term analysis which shows (see below) that December's low was on the 42.005 1M (monthly) support giving WTI oil high chances of a sustainable rebound: ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
OANDA:WTICOUSD
by InvestingScope
2
WTI Oil: Target hit. Switching to buying.TP = 60.20 hit as the 1D Channel Down (Highs/Lows = -1.9164, MACD = -2.510, B/BP = -4.6080) extended to a 59.20 Lower Low. The chart (1D) is now oversold (RSI = 25.241) and since the price hit the 58.20 - 60.20 Monthly support zone, we expect a gradual rebound (timed after this week's Inventories). The key point to break is 61.90 and our long's TP = 64.00. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX:USOILLong
by InvestingScope
1
BTC alert BUY ! Bitcoin is still in the horizontal corridor, you can see the tapering triangle. According to the classic of technical analysis, the way out of the triangle is in the last quarter. On April 9, an attempt was made to break down, but the bulls held the level. Another sign of an early exit from the flat is a decrease in the volumes traded - an ever smaller range, the spring contracts more and more. Analysis of open interest on a long period shows the easing of bear pressure. For a short period - bullish divergence. As an option - the signal to enter a long position is part of the deposit. The possible option is the arrow on the graph. The traffic potential is at least 10-15% All the best! indicator OI here
BITFINEX:BTCUSDLong
by fvb
1
October 23 Earnings: Owen-Illinois - Currency advantageOwen-Illinois is going to benefit from the strength of the Euro and the Mexican Peso with its international operations. Better price-cost margins enhancing system pricing to aid overall sales in the quarter. Even with the company's higher costs with overall operational expenses, I believe the pros outweigh. I believe the company will benefit from the aforementioned factors and am starting OI with a $27.00 PT. A tight stop loss to prevent 52-week high slippage is advised going into earnings.
NYSE:OILong
by TraderDanER